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September 23, 2013: General Solicitation and Bad Actor Rule Changes Take Effect
Practical Law Legal Update 8-541-8386 (Approx. 4 pages)
September 23, 2013: General Solicitation and Bad Actor Rule Changes Take Effect
by Practical Law Corporate & Securities
| Published on 23 Sep 2013 • USA (National/Federal) |
September 23, 2013 is the effective date for SEC rule changes that permit general solicitation and general advertising in certain securities offerings under Rule 506 of Regulation D and Rule 144A of the Securities Act, and that disqualify securities offerings involving felons and other bad actors from relying on Rule 506 of Regulation D. Practical Law Corporate & Securities has published new resources and substantially revised existing resources in light of these rule changes.
On September 23, 2013, the following SEC rule changes take effect:
- General Solicitation. The new rule changes permit 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. To learn more, see Legal Update, SEC Approves Final JOBS Act General Solicitation Rules.
- Bad Actor Disqualification Provisions. The new rule changes disqualify 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. To learn more, see Legal Update, SEC Approves Final Rules Disqualifying Felons and Bad Actors in Rule 506 Securities Offerings.
Related Content: New and Substantially Revised Resources
In light of these rule changes, Practical Law Corporate & Securities has:
- Substantially revised the following resources: