SEC Lifts Ban on General Solicitation for Rule 506 Offerings

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On July 10, 2013, the SEC amended Rule 506 of Regulation D as required by Section 201(a) of the JOBS Act, allowing companies to openly advertise the sale of their securities in private offerings.

Under new Rule 506(c), an issuer can offer securities by way of general solicitation, provided that it satisfies certain conditions.

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