SEC Approves Repeal of Advertising Prohibition

July 10, 2013 § Leave a comment

After lengthy delays, the SEC approved final rules to repeal the prohibition on advertising in connection with Rule 506 private placement offerings.  The final rules were modified only slightly from the previously proposed version. The repeal will become effective in early September. « Read the rest of this entry »

Comments Show Divergent Responses to Proposed SEC Advertising Rules

October 30, 2012 § 2 Comments

After multiple delays, the SEC finally proposed rule changes to permit advertising under Rule 506 offerings and invited comments from the public. To date, the SEC has received over 150 of comments which show a wide range of responses to the proposed rule. Given the number and range of responses, we anticipate slow going for adoption of final rules. « Read the rest of this entry »

SEC Again Delays Action on Advertising Rules

August 22, 2012 § 1 Comment

The SEC announced that its open meeting to announce rules governing advertising of offerings under Rule 506, originally scheduled for August 22, has been delayed until August 29. This follows news from the SEC that it will be releasing only proposed rules for public comment at the meeting. Some had hoped the SEC would announce interim or temporary rules to go into effect immediately. Instead, any proposed rules announced by the SEC will be subject to usual public comment and review, typically between 30 and 60 days.   « Read the rest of this entry »

JOBS Act Repeal of Advertising Restrictions Further Delayed

August 20, 2012 § 3 Comments

UPDATE: SEC Again Delays Action on Advertising Rules

The SEC was expected to issue interim or temporary rules at its open meeting on August 22  that would have permitted private fund managers and others to begin advertising in connection with Rule 506 offerings of their securities. A recent statement, however, has announced that the SEC will instead only propose rules for public comment following the SEC’s typical rulemaking process. The SEC has already missed the original July 4 deadline imposed by the JOBS Act.

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SEC Commissioners to Consider Fund Advertising Rules

July 6, 2012 § 3 Comments

Although the proposed rules have yet to be released, the SEC has announced that they will be considering rules to repeal the ban on general solicitation and advertising at an August 22 open meeting. The SEC is expected to release its proposed rules sometime prior to the August meeting. « Read the rest of this entry »

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