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Past Event
22 August 2013


  • Michael L. Hermsen
    T +1 312 701 7960

Recent Changes to Regulation D; More to Come

On July 10, 2013, the Securities and Exchange Commission adopted changes to Rule 506 of Regulation D to allow issuers to engage in “general solicitation” and “general advertising” in certain offerings made under Rule 506, so long as all purchasers of the securities in such offerings are accredited investors and certain other conditions are met. The SEC also is prohibiting issuers from relying on Regulation D if felons and other “Bad Actors” are participating in the offering. These rule changes are expected to be effective by late September 2013. The SEC has also proposed new rules intended to enhance the SEC’s ability to evaluate and monitor the development of market practices in Rule 506 offerings and address concerns that may arise in connection with allowing issuers to engage in general solicitation and advertising under Rule 506.

Please join us as Mayer Brown partner Michael Hermsen provides an overview of these changes to Regulation D and the impact on private investment funds and other private offerings.

Mayer Brown’s Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm’s global resources from multiple practices and offices, the initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.

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