SEC Announces Open Meeting on JOBS ACT and Related Matters
The SEC announced that it will hold an Open Meeting to discuss proposed rules and amendments. The following items will be addressed:
- To eliminate the prohibition against general solicitation and general advertising in various types of private placements as mandated bySection 201 of the JOBS Act;
- To consider whether to propose amendments to Regulation D, Form D, and Rule 156 under the Securities Act; and
- To consider whether to adopt amendments that disqualify securities offerings which involve certain "felons and other bad actors" from relying on the registration-exemption provided under the Securities Act pursuant to Rule 506 as mandated by Section 926 of the Dodd-Frank Act.