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SEC Announces Agenda for Upcoming Meeting of Advisory Committee on Small and Emerging Companies
Practical Law Legal Update 7-541-0767 (Approx. 4 pages)
SEC Announces Agenda for Upcoming Meeting of Advisory Committee on Small and Emerging Companies
by Practical Law Corporate & Securities
| Published on 12 Sep 2013 • USA (National/Federal) |
The SEC announced the agenda for an upcoming meeting of its Advisory Committee on Small and Emerging Companies that will include discussions on general solicitation, proposed amendments to Regulation D, bad actor disqualifications and the impact of the JOBS Act.
On September 10, 2013, the SEC announced the agenda for an upcoming meeting of its Advisory Committee on Small and Emerging Companies, which is scheduled to take place on September 17, 2013 at 9:30 a.m. (EDT). The committee was set up to provide a formal mechanism for the SEC to receive advice and recommendations specifically related to privately-held small businesses and smaller publicly-traded companies.
The meeting will feature discussions on:
- Final rules adopted by the SEC in July to eliminate the ban on general solicitation and general advertising in certain securities offerings under Rule 506 of Regulation D and Rule 144A of the Securities Act, as required by the JOBS Act (see Legal Update, SEC Approves Final JOBS Act General Solicitation Rules).
- Final rules adopted by the SEC in July disqualifying securities offerings from relying on the safe harbor provided by Rule 506 of Regulation D if any felons or other bad actors are involved in the offering, as required by the Dodd-Frank Act (see Legal Update, SEC Approves Final Rules Disqualifying Felons and Bad Actors in Rule 506 Securities Offerings).
- Proposed rule amendments to Regulation D and Rule 156 under the Securities Act that are designed to provide information on the Rule 506 market once general solicitation is permitted and offer additional investor protection safeguards (see Legal Update, SEC Proposes Rule Amendments to Evaluate the Rule 506 Market Once General Solicitation is Lifted).
- The impact of the JOBS Act and steps to facilitate capital formation by smaller public companies and emerging privately held companies.
The meeting will be webcast live on the SEC website and will be archived for later viewing.