New SEC General Solicitation Rules Go into Effect

By | The Venture Alley | September 22, 2013
Credit - Jonathan Ernst

Earlier this summer, together with some of my partners within DLA Piper (Christopher Paci, Jason Harmon, Darryl Steinhause and Wesley Nissen), I wrote an article about new SEC regulations concerning private offerings. The final rules issued in July 2013 by the SEC go into effect on September 23, 2013. Below is a summary of the changes with respect to general solicitation in such rules.

SEC Clarifies That Issuers May Generally Solicit Under New Rule 506(c) Without Complying with Pending Regulation D Rules

SEC Clarifies That Issuers May Generally Solicit Under New Rule 506(c) Without Complying with Pending Regulation D Rules

In Latham’s FAQs on the SEC’s general solicitation rules we asked whether issuers would be willing to take advantage of new Rule 506(c) after it takes effect on September 23, given the additional Regulation D requirements that the SEC has proposed but not yet adopted.