§ 25204 Investor Protection Exemptions

• •The commissioner can create exemption rules.
• •Exemptions can be unconditional or have specific terms and time limits.
• •Exemptions are allowed when they serve the public interest or protect investors.
• •Only the groups named in the rules get the exemption.

A small group of local farmers wants to avoid a complicated financial reporting rule that usually applies to big companies.

The commissioner could make a rule that says those farmers don’t have to follow that reporting rule, maybe for a few years, because it’s better for the community and investors.