Legal Update - March 2012


In This Issue:

- SEC Issues Final Rules to Implement Changes in Accredited Investor Definition

- Florida Legislature Enacts Last-Minute Extension of the Distressed Condominium Relief Act

- Agencies Issue Final Rule for Summary of Benefits Requirement: FAQs Issued on Automatic Enrollment, 90-Day Waiting Period Limits, and Employer Shared Responsibility Rule

Excerpt from SEC Issues Final Rules to Implement Changes in Accredited Investor Definition

The Securities and Exchange Commission (“SEC”) recently adopted amendments to the definition of “accredited investor,” implementing certain requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The amendments affect companies seeking to raise money through private offerings because they change the rules for determining if a potential investor qualifies as an “accredited investor.”

Please see full update below for more information.

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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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