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July 11, 2013
US Securities and Exchange Commission Lifts General Solicitation Ban
"SEC Acts to Lift Decades Old Restriction on General Solicitation"
By: A. W. Morgan On Wednesday July 10, 2013, the US Securities and Exchange Commission (the “SEC”) adopted a new rule that lifts the ban on general solicitation or general advertising for certain private securities offerings. In connection with this new rule, the SEC adopted measures designed to (i) requiring issuers to provide additional information about these securities offerings to better enable the SEC to monitor the market with that ban now lifted; and (ii) provide for additional safeguards as this market changes and new practices develop. The SEC also adopted rules that disqualify felons and other bad actors from participating in certain securities offerings as required by the Dodd-Frank Act. In support of these new measures, Mary Jo White, Chair of the SEC, is quoted in the news release as stating that in order for the SEC to “fulfill [its] mission to facilitate capital formation and maintain fair and efficient markets, the Commission must always focus on strong investor protections” and that the SEC wants “this new market and the private markets in general to thrive in a safe and efficient manner, and these rules we adopt and propose are designed to facilitate that objective.” Click on the following link to read the SEC press release regarding this rule change: SEC Lifts General Solicitation Ban. For more information about the impact of this new rule on the ability of startups and others seeking funding, read our article { }. Source: http://www.themorganlawgroup.com.
The Morgan Law Group is a full service corporate transactional law firm located in Gwinnett County Georgia near the
City of Lawrenceville. We provide legal transactional advisory and support services to individuals, business
owners, corporations, partnerships and government agencies, primarily in the areas of general corporate, business
law, contracts, business and asset sales and purchases, mergers and acquisitions, joint ventures, corporate finance
and real estate law.
For more information, visit www.themorganlawgroup.com. |
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THE MORGAN LAW GROUP, P.C.
1755 North Brown Road, Suite 200, Lawrenceville, GA 30043
Phone: (678) 597-8755 / Fax: (404) 601-1635
Copyright 2013 |The Morgan Law Group, P.C.| All Rights Reserved.