The SEC has moved a step closer in finalizing the regulations regarding the implementation of the Jobs Act. Recently there was a meeting held with Mary Jo White which involved crowdfunding industry leaders which expressed new found excitement that final resolution was forthcoming. Addressing Regulation D will check one of the items off the list which the SEC must address.
The complete explanation of the meeting is below:
The subject matters of the Open Meeting will be:
- The Commission will consider whether 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, as mandated by Section 201(a) of the Jumpstart Our Business Startups Act.
- The Commission will consider whether to propose amendments to Regulation D, Form D and Rule 156 under the Securities Act. The proposed amendments are intended to enhance the Commission’s ability to evaluate changes in the market and to address the development of practices in Rule 506 offerings.
- The Commission will consider whether to adopt amendments to disqualify securities offerings involving certain “felons and other ‘bad actors’” from reliance on the exemption from Securities Act registration pursuant to Rule 506 as mandated by Section 926 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The open meeting will be held on Wednesday, July 10, 2013 at 10:00 a.m., in the Auditorium, Room L-002.