What securities laws exemption are these transactions relying on? Is SharesPost legal?
Though each participant in a SharesPost facilitated contract is solely responsible for making their own legal determination about the availability of an exemption from the securities laws, we believe we have constructed the SharesPost process such that Buyer and Seller can generally make use of a Section 4(1) exemption, and in some cases, Rule 144. Supporting such an exemption is the fact that only SharesPost members with a password protected account are able to participate in postings, only accredited investors can be SharesPost Buyers, and only sellers holding their shares for at least a year can be Sellers. In addition, SharesPost has teamed up with certain registered broker dealers to provide certain services to the SharesPost community, including the qualification of members to access certain investment opportunities. Go to our Legal Considerations page to learn more. Go to our Referrals page to find an attorney or other expert.
