Tag Archives: rule 144a

SEC Opts to Take Its Time and Try To Get The Rule Right

In this year’s Jumpstarting Our Business Startups (JOBS) Act, Congress eliminated the prohibition on general solicitation or advertising in connection with private offerings of securities and required the SEC to adopt and implement Congress’s mandate via rulemaking within 90 days of the effective date of the Act. To meet this deadline, the SEC would have needed to issue an interim rule, which would have had an immediate impact on how capital raisers communicate with investors and the broader public.

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