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ARTICLE · 08 MAY 2012

A Compilation Of Non-Enforcement Actions - April 2012

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The Jumpstart Our Business Startups Act (JOBS Act) signed into law by President Obama on April 5, 2012, includes the removal of the general solicitation and general advertising prohibitions for securities offerings conducted under Rule 506 of Regulation D under the Securities Act of 1933 if the purchasers are limited to persons who are "accredited investors" as defined under Regulation D.

United StatesFinance and Banking
Peter Fetzer
Peter Fetzer
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Non-Enforcement Matters

The JOBS Act; Rule 506 Accredited Investor Only Offerings Likely to Be Even More Popular

The Jumpstart Our Business Startups Act (JOBS Act) signed into law by President Obama on April 5, 2012, includes the removal of the general solicitation and general advertising prohibitions for securities offerings conducted under Rule 506 of Regulation D under the Securities Act of 1933 if the purchasers are limited to persons who are "accredited investors" as defined under Regulation D. This article discusses the probable impact of the prohibitions removal for such offerings.

The JOBS Act requires the SEC to amend Regulation D to remove the general solicitation and general advertising prohibitions for a Rule 506 offering limited to accredited investor purchasers within ninety (90) days of enactment of the JOBS Act (on or about July 5, 2012). The SEC is currently soliciting public input on its rulemaking mandates under the JOBS Act. With respect to

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