Covington & Burling

International Top 30 position: 25

SEC proposes to permit public communications in private placement rules

In late August, the Securities and Exchange Commission (SEC) proposed, by a 4–1 vote, to permit general solicitation and general advertising under two of its private placement safe harbor rules. This will come in the form of rule amendments that are mandated by Section 201(a) of the Jumpstart Our Business Startups Act (JOBS Act). The first amendment will eliminate the prohibition against general solicitation and general advertising.

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Analysis from The Lawyer

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    Summer Round-up: Deals, booted

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265 Strand

Firmwide revenue 2011 ($m): 611
Global lawyers 2011: 781