News & Analysis as of September 21, 2024

Commodities Futures Trading Commission

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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 -

CFTC Permits CPOs to Advertise

Proskauer Rose LLP on 9/15/2014

On September 9, 2014, the Commodity Futures Trading Commission (CFTC) issued an exemptive letter (No. 14-116) that permits a commodity pool operator (CPO) relying on an exemption under CFTC Regulation 4.7(b) or 4.13(a)(3) to...more

De Minimis Exemption Inhibiting Funds

Morrison & Foerster LLP - JOBS Act on 9/25/2013

Quite a number of collective investment vehicles, including funds, and other entities that may not be viewed by the CFTC as “operating companies” may, in the absence of specific relief or an available exemption, be a...more

Advertising Restrictions Apply to Commodity Pools

Morrison & Foerster LLP - JOBS Act on 7/17/2013

In prior posts, we have noted that the relaxation of the ban on general solicitation in no way relieves certain registered entities of their obligations to comply with regulations related to advertising or promotional...more

Corporate and Financial Weekly Digest - July 12, 2013

Katten Muchin Rosenman LLP on 7/15/2013

In this issue: - SEC Adopts and Proposes New Rules, Including Easing the Prohibition on General Solicitation - District Court Vacates SEC’s Resource Extraction Issuer Rule - SEC Announces Three New...more

SEC Passes Final Rules Implementing JOBS Act Amendments to Regulation D

Foley Hoag LLP on 7/12/2013

On July 10, 2013, the SEC voted 4-1 to approve final rules, which included the adoption of new subsection (c) to SEC Rule 506 of Regulation D under the Securities Act of 1933, permitting the use of general solicitation and...more

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