Whenever a company makes public offering of securities such as shares, a security issuance reporting form and the related investment prospectus must be filed with the Financial Services Commission and the company must make copies available for access by the general public.

In determining whether a issuance requires a filing of a reporting form, the issuer must take into consideration whether the securities to be issued belong to "the same class” and whether they are subject to the statutory provisions regarding issuance and disclosure for transactions deemed as “offering or sale.”

In case of a violation of the filing requirement, the issuer may be liable to the investors for any damages incurred and there may be subject to investigation, corrective order, fines and other criminal charges.