SEC JOBS Act Amendments to NASD Rule 2711 and Incorporated NYSE Rule 472

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On November 1, the SEC approved amendments to NASD Rule 2711 and Incorporated NYSE Rule 472 to conform to the requirements of the JOBS Act and make certain additional changes to quiet period restrictions consistent with the policies underlying the JOBS Act. Most amendments are effective retroactively on April 5. However, amendments to rules regarding quiet periods after secondary offers and after the expiration, termination or waiver of a lock-up agreement are effective retroactively on October 11. FINRA Notice. FINRA Amendments.


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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