On July 10, 2013, the Securities and Exchange Commission (“SEC”) adopted a final rule, available here, to implement the requirement in JOBS Act Section 201(a) to lift the historic ban on general solicitation and advertising in Rule 506 and Rule 144A offerings. The SEC also adopted a final rule, available here, to disqualify felons and other bad actors from utilizing Rule 506. The new rules are scheduled to go into effect in September 2013.
In addition, the SEC proposed new rules, available here, to increase investor protection and generate data with respect to these new changes.
Click here for the SEC’s recent press release.