SEC Issues New Proposed Rules
Here is a link to proposed rules from the SEC. I see these changes as having limited utility for most of my clients.
Very roughly, 95% of all private securities offerings rely on Rule 506 of Regulation D. None of my clients has relied on Rule 504 in a VERY long time, not because of the dollar limitation (necessarily) but because the US federal exemption under Rule 504 does not preempt state securities registration requirements like Rule 506 does. Very simply, this creates additional compliance costs. Unless you want to sell to more than 35 non-accredited investors, Rule 506 will always have more flexibility and will be cheaper from a compliance standpoint.