Pryor Cashman's Bertrand Fry and David Parsly Author Legal Update About SEC's Proposed Rules Effecting JOBS Act's Elimination of General Solicitation Ban in Private Offerings


As mandated by the JOBS Act, the Securities and Exchange Commission issued on August 29, 2012 proposed rules to eliminate the prohibition against general solicitation and general advertising in Rule 506 of Regulation D under the Securities Act of 1933. The proposed rules would also amend Rule 144(d)(1) under the Securities Act of 1933 to provide that securities may be offered pursuant to Rule 144A to persons that do not satisfy that rule’s definition of “qualified institutional buyer” so long as such securities are sold only to persons that are, or that the seller reasonably believes are, qualified institutional buyers.

Partner Bertrand Fry, Co-Chair of Pryor Cashman’s Investment Management Group, and associate David Parsly have authored the Legal Update entitled "SEC Proposes Rules Effecting the JOBS Act's Elimination of the General Solicitation Ban in Private Offerings."

LOADING PDF: If there are any problems, click here to download the file.

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.

© Pryor Cashman LLP | Attorney Advertising

Written by:


Pryor Cashman LLP on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.