Implementing a key provision of the JOBS Act of 2012, the SEC voted today to adopt amendments to eliminate the prohibition against general solicitation and general advertising in certain securities offerings conducted pursuant to Rule 506 of Regulation D under the Securities Act and Rule 144A under the Securities Act. The amendments will go into effect 60 days after they are published in the Federal Register. The SEC also voted to propose amendments to Regulation D, Form D and Rule 156 under the Securities Act to enhance the Commission’s ability to evaluate changes in the market and to address the development of practices in Rule 506 offerings.
