SEC Proposes Rules Permitting General Solicitation in Certain Unregistered Offerings

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On August 29, 2012, the Securities and Exchange Commission, or SEC, issued proposed rules which would allow advertising and publicity in certain unregistered offerings. As mandated by the Jumpstart Our Business Startups Act, or JOBS Act, the proposed amendments:

- Permit general solicitation and general advertising in offerings under Rule 506 of Regulation D, so long as all investors in the offering are accredited; and

- Permit offers to persons who are not "qualified institutional buyers," or QIBs, in a Rule 144A offering, so long as all purchasers in the offering are QIBs.

Please see full alert 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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