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About the Midwest Regional Review Program
Coordinated regional review is available to issuers that desire to offer their equity securities in at least two of the 11 Midwestern states, as specified herein, if the issuers comply with the North American Securities Administrators Association's (NASAA) Small Company Offering Registration (SCOR) Statement of Policy.

Qualified Issuers
If an issuer qualifies for an exemption from registration in a state, the issuer would not be precluded from using the program for registration in any or all of the other states. In addition, offering documents that comply with the forms of disclosure permitted by Securities and Exchange Commission (SEC) Regulation A shall also be allowed under Coordinated Midwest Regional Review (CMRR). Most of the merit or fair and equitable standards will be waived by the states in which the issuer files for coordinated review.

After Applying
After an application has been received, the state that has been assigned the application for coordinated review (the lead state) will contact the issuer with any comments.

  • Once the initial application has been received, you may not add other states to that application; however, you may file for Midwest Regional Review in at least two other additional states, but will be subject to a new coordinated review.
  • You must comply with the North American Securities Administrators Association (NASAA) SCOR Statement of Policy and the MRRP requirements provided in this website.
  • You must file in at least two of the 11 states to qualify for Midwest Regional Review.