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SEC Issues Proposed Rules Under JOBS Act Eliminating Prohibition of General Advertising for Private Offerings

The Jumpstart Our Business Startups Act (the "JOBS Act"), signed by President Barack Obama on April 5, 2012, directs the SEC to adopt rules implementing several provisions of the law affecting offerings of securities (including by private equity and hedge funds) exempt from registration under the federal securities laws. On August 29, 2012, the SEC issued proposed rules that would implement the JOBS Act's elimination of the ban on general solicitation or general advertising in connection with offerings made pursuant to Rule 506 of Regulation D and Rule 144A under the Securities Act of 1933. 

This interview with corporate partner Udi Grofman offers a brief analysis of the SEC's new proposed rules for private offerings, with an emphasis on the implications for private equity and hedge funds.

» Read the firm's memo for more insight into the SEC's proposed rules

September 10, 2012

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