JOBS ACT - SEC Votes to Lift Ban on General Advertising and Solicitation by Private Investment Funds

 

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JOBS ACT SEC Votes to Lift Ban on General Advertising and Solicitation by Private Investment Funds

On July 10, 2013, the Securities and Exchange Commission ("SEC"): (1) voted to eliminate the prohibition on general solicitation and advertising for certain private securities offerings (the "Final General Solicitation Rules"); (2) adopted "bad actor" provisions, disqualifying companies and funds from participating in such solicitation and advertising if felons and other "bad actors" participate in the offering (the "Final Bad Actor Rules"); and (3) proposed amendments to enhance investor protection measures (the "Proposals"), which, if passed, would require that issuers provide additional information about these securities offerings.   

 

Sadis & Goldberg held a webinar on July 15th discussing what the SEC rules focused on which included:

  • a balanced approach to verification of accredited investor standards;
  • advertising materials, including websites;
  • performance presentations; and 
  • investor protection.   

If you were unable to join us on July 15th, please click on the red button to listen to the webinar.  Learn what you should be doing to prepare for these changes.

 

 

Cheryl Spratt