On August 29, 2012, the Securities and Exchange Commission issued a long-awaited proposal to eliminate the ban on advertising and other forms of “general solicitation” in private offerings made in reliance on Rule 506 of Regulation D of the Securities Act, provided that all purchasers of the securities are accredited investors, and in reliance on Rule 144A of the Securities Act, provided that all purchasers of the securities are qualified institutional buyers. The proposed rules were required by Section 201(a) of the Jumpstart Our Business Startups Act and represent the SEC’s first rulemaking under the JOBS Act.

On October 4, 2012, please join Mayer Brown lawyers Michael Hermsen and Jennifer Carlson as they discuss the following topics:

  • The proposed rules and their potential impact on future Regulation D and Rule 144A offerings
  • “Reasonable steps” to verify that purchasers of securities are accredited investors
  • How the proposed rules would affect solicitation of investments and the potential benefits to companies seeking to raise capital