FINRA Rule Relating to Private Placements of Securities Effective December 3

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In the September 14, 2012, edition of Corporate and Financial Weekly Digest, the firm published a summary of the Financial Industry Regulatory Authority’s Rule 5123 regarding private placement of securities. Rule 5123 became effective on December 3, and it applies prospectively to private placements that began selling efforts on or after that date. In addition, member firms that file offering documents pursuant to FINRA Rule 5122 and FINRA Rule 5123 must use FINRA’s new private placement filing system on FINRA’s Firm Gateway system.

 


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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