SEC Action on Private Placement Rules Anticipated Soon
Posted on Jul. 9, 2013

On Wednesday, July 10, the Securities and Exchange Commission will consider adopting amendments to its rules governing private placements of securities. Section 201(a) of the JOBS Act directed the Commission to act by July 2012 to liberalize restrictions on publicity in private placements, but controversy surrounding the Commission's August 2012 proposal resulted in a delay. The amendments will likely eliminate (a) the prohibition on general solicitation and general advertising for private placements to accredited investors under Rule 506 and (b) the prohibition on offers to non-qualified institutional buyers in private placements under Rule 144A.

We will update our blog to describe what action the SEC takes in this regard, which may be the most significant development for private placements that has happened in several years.

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Department Chair

robRob M. Alston

Rob is serving his second year as chair of the Jones Waldo Business Department.

His practices focuses on mergers, acquisitions and reorganizations of all types (buying, selling, combining and restructuring businesses) and transactional work involving values from $100,000 to over $500 million.

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