NASAA approves new SCOR form

On September 28, 1999, the North American Securities Administrators Association (NASAA) recently approved changes to the SCOR form (Form U-7) and accompanying manual to make it more user-friendly for both issuers and investors.

• Form U-7 has been reorganized and divided by major headings.
• Many of the questions in Form U-7 have been reduced to statements. As a consequence, the questions are now labeled "Items".
• Many of the Items in Form U-7 have been modified to make them more clear, concise and relevant to small business offerings.
• Some of the Items have been broadened to enhance disclosure.
• Each Item is numbered to reduce confusion in filling out and reviewing the Form.
• An Executive Summary has been added to Form U-7 and the Issuer's Logo may appear on its Cover Page.
• Explanatory material has been moved from Form U-7 to the manual.
• Both documents emphasize plain English.
• Contact any Midwest Regional Review Program member for details or visit the NASAA Web site at: www.nasaa.org