Reprinted with the permission of The Legal Intelligencer.

On July 10, the Securities and Exchange Commission adopted a rule to lift the ban on general solicitation and advertising in offerings of securities under Rule 506 of Regulation D and Rule 144A under the Securities Act of 1933. The SEC also expanded the bar on "bad actors" from participating in private securities offerings. In addition, the SEC issued proposed rules with respect to expanded requirements for Rule 506 offerings where general solicitation and advertising are used. This article provides a summary of the reactions to the new rules and proposed rule, including commentary provided by the SEC commissioners. For a complete summary of the new rules as well as the proposed rule, use the following link:  more >



































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