Choice "B" is correct. Under Regulation A, an offering circular must be filed with the SEC.
Choice "a" is incorrect. Under Regulation A, sales can be made to any number of investors as long as sales do not exceed $5 million.
Choice "d" is incorrect. There is no requirement of providing investors with four years' audited financial statements.
Choice "c" is incorrect. There is no requirement under Regulation A that investors be provided with proxy registrations.
