Sign up for free newsletter

 

Mary Jo White, SEC

SEC approves JOBS Act requirement to lift general solicitation ban, disqualify bad actors from certain offerings

The Securities and Exchange Commission has adopted a new rule to implement a JOBS Act requirement to lift the ban on general solicitation or general advertising for certain private securities offerings.

In connection with this new rule, the Commission voted to issue a rule proposal requiring issuers to provide additional information about these securities offerings to better enable the SEC to monitor the market with that ban now lifted. The proposal also provides for additional safeguards as this market changes and new practices develop. (Fact Sheet)

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.

“As we fulfil our mission to facilitate capital formation and maintain fair and efficient markets, the Commission must always focus on strong investor protections,” says Mary Jo White, Chair of the SEC. “We want 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.”

The rule amendments become effective 60 days after publication in the Federal Register. The rule proposal will undergo a 60-day public comment period following its publication in the Federal Register.


Subscribe to free daily newsletter
latestjobs
Mobile Engineer

Tue, 01 Sep 2015 00:00:00 GMT

CTO / Chief Architect

Tue, 01 Sep 2015 00:00:00 GMT

Senior UNIX Systems Administrator/Engineer

Tue, 01 Sep 2015 00:00:00 GMT

events
6 days 17 hours from now - New York
1 week 17 hours from now - New York
1 week 5 days from now - London
1 week 6 days from now - California
specialreports