US SEC lifts ban on general solicitation for certain private offerings

On 10 July 2013, the SEC adopted a final rule lifting the ban on general solicitation and advertising for certain private offerings of securities. The SEC also proposed a new rule that would require issuers of securities in these offerings to provide additional information to the SEC.

Lastly, the SEC adopted a final rule that would disqualify felons and other ‘bad actors’ from relying on Rule 506 for private offerings…

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