SEC Lifts Ban on General Solicitation and General Advertising for Certain Private Placements

July 11, 2013

In its open meeting on July 10, 2013, the SEC lifted the ban on general solicitation and advertising for certain private placements under Rule 506 and Rule 144A. These amendments to the rules become effective 60 days after they are published in the Federal Register.

Broker-dealers should note that these changes will require amendments to training programs and written supervisory procedures.

For more information follow this link to a client alert published today by Seward & Kissel.


Regulations/Rules, SEC