News & Analysis as of September 22, 2024

Investment Adviser

+ Follow

General Solicitation typically refers to the soliciting of investors to purchase securities. Prior to the passage of the JOBS Act in 2012, general solicitation was banned in connection with privately offered unregistered securities. Issuers were only permitted to offer such securities to investors with whom they had a pre-existing substantive relationship. Section 201(a) of the JOBS Act lifted the ban on general solicitation, but only with respect to accredited investors. less -

New Proposed SEC Rule Would Allow Finders to Receive Commissions Without Registering as a Broker Dealer

Hinshaw & Culbertson LLP on 11/4/2020

In order to clarify various no action letters and court decisions, the Securities and Exchange Commission (SEC) has proposed an rule that would allow two classes of “finders” to avoid having to register as a broker-dealer or...more

SEC Proposes Amendments to Advertising and Client Solicitation Rules under the Investment Advisers Act

Sullivan & Worcester on 11/18/2019

The U.S. Securities and Exchange Commission (the “SEC”) proposed on November 4, 2019 significant amendments to its current rules under the Investment Advisers Act of 1940 (the “Advisers Act”) relating to investment adviser...more

SEC Proposes Solicitation Rule Amendments

A&O Shearman on 11/18/2019

On November 4, 2019, the U.S. Securities and Exchange Commission (SEC) proposed amendments to rules governing investment adviser advertisements and payment to solicitors under the Investment Advisers Act. The comment period...more

SEC To Overhaul Investment Adviser Advertising Rule

A&O Shearman on 11/18/2019

Two facts may come as a surprise about the U.S. Securities and Exchange Commission’s existing investment adviser advertising rule: that it literally fits on one page, and that it has not been updated since 1961. These facts...more

Social Media Compliance Guide For Issuers, Broker-Dealers, And Advisers

Mayer Brown Free Writings + Perspectives on 7/9/2018

[author: Trevor Starer] The use of social media raises many securities law and compliance challenges for issuers, broker-dealers, and investment advisers. This Compliance Guide summarizes briefly some key principles. ...more

SEC Provides Guidance on “General Solicitation” in C&DIs and No-Action Letter

Akin Gump Strauss Hauer & Feld LLP on 8/31/2015

On August 6, 2015, the Staff of the Securities and Exchange Commission’s (SEC) Division of Corporation Finance issued new compliance and disclosure interpretations (C&DI Questions 256.23 through 256.33) regarding the meaning...more

SEC Division of Corporate Finance Issues New CD&Is Relating to General Solicitation and Regulation D

Katten Muchin Rosenman LLP on 8/18/2015

On August 6, the Staff of the Division of Corporate Finance of the Securities and Exchange Commission (Staff) released new Compliance and Disclosure Interpretations (C&DIs) relating to “general solicitation” under Rule 502(c)...more

Verifying Accredited Investors in Public Rule 506 Offerings: SIFMA Guidance

Stinson - Corporate & Securities Law Blog on 6/30/2014

On June 23, 2014, the Securities Industry and Financial Markets Association (SIFMA) published a memo outlining several specific methods for verifying accredited investor status that SIFMA believes would satisfy the...more

Investment Management Legal + Regulatory Update -- October 2013

Morrison & Foerster LLP on 10/24/2013

- Regulatory Updates: CFTC Adopts “Substituted Compliance” Approach for Registered Investment Companies that are Commodity Pools; SEC’s Final Rules on General Solicitation and Bad Actor Disqualification for Investment...more

The Impact of the SEC’s Final Rules on General Solicitation and Bad Actor Disqualification for Broker-Dealers and Investment...

Broker-Dealer Compliance + Regulation on 9/12/2013

The SEC recently finalized amendments to Rule 506 of Regulation D and Rule 144A under the Securities Act relaxing prohibitions against general solicitation in certain private offerings of securities implementing Section...more

SEC Exempts Another Crowd Funding Site From Broker-Dealer Rules

Stinson - Corporate & Securities Law Blog on 4/1/2013

The SEC has granted AngelList relief on accepting transaction based compensation for crowd funding, exempting it from the broker-dealer rules. A couple days ago, the SEC granted relief to thefundersclub.com. Makes you kind...more

11 Results

View per page

Page: of 1

General Solicitation › Broker-Dealer › Investment Adviser

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