# privateofferingmarketingaudit report: https://invest.demo-multifamily.example/current-offering

> Demo report on a fictional sample site.

**Score:** 22/100 · Scanned 2026-10-28T04:42:47.440Z

6 of 8 checks need attention (3 high priority).

- [x] **Observed: offering language on a publicly reachable page** (medium): Investment-offering language is visible without a login; treat the page as general solicitation when reviewing which Regulation D exemption applies.
- [ ] **Observed: accredited-investors-only statement** (high): Offering language appears but no accredited-investors-only statement was found.
- [x] **Observed: the Regulation D rule relied on is named** (medium): Named: 506(b).
- [ ] **Observed: accredited-status verification statement** (high): No statement that accredited status will be verified was found.
- [ ] **Observed: target or projected returns shown with risk language** (high): Projected-return wording ("18% target IRR") appears without risk or no-guarantee language on the page.
- [ ] **Observed: gross performance shown without net** (medium): Gross returns/IRR are mentioned with no net figure on the page.
- [ ] **Observed: not-an-offer / offering-documents statement** (medium): No not-an-offer or offering-documents statement was found.
- [ ] **Observed: Form CRS, IAPD or BrokerCheck link** (low): No Form CRS, IAPD or BrokerCheck reference found.

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Automated observations of the publicly served HTML of one page (content behind an investor login or added later by JavaScript is not seen). Relates to Regulation D, 17 CFR 230.502(c) (no general solicitation in 506(b) offerings) and 230.506(c) (general solicitation permitted if all purchasers are accredited and the issuer takes reasonable steps to verify), the antifraud provisions (Securities Act section 17(a), Exchange Act Rule 10b-5) and, for registered advisers, the Marketing Rule (17 CFR 275.206(4)-1) and Form CRS posting rules (17 CFR 275.204-5, 240.17a-14); state blue-sky rules and your offering documents also apply. Not investment advice. Not legal advice and not a compliance certification.