(The following press release from SEC was received by e-mail. The sender verified the statement.) Fact Sheets are attached explaining the staff’s recommendations to the Commission at today’s open meeting … Item 1: Eliminating the Prohibition on General Solicitation and General Advertising in Certain Offerings Commission will consider whether to adopt a Congressionally-mandated rule that would lift an existing restriction on companies seeking to raise capital through a general solicitation or general advertising in certain securities offerings conducted under Rule 506. Item 2: Disqualification of Felons and Other “Bad Actors” from Rule 506 Offerings Commission will consider whether to adopt a rule that would disqualify felons and other bad actors from participating in certain securities offerings. Item 3: Proposing Amendments to Private Offering Rules In connection with the SEC’s consideration today of adopting a Congressionally-mandated rule to lift the ban on general solicitation in certain private offerings, the Commission will consider a proposal that would enable it to collect additional data on how the new rule affects the private offering market and the offering practices that develop under the new rule. The proposal would address certain concerns raised by investors in connection with this new rule. -KC
SEC AGENDA FOR VOTE ON LIFTING BAN ON ADS BY HEDGE FUNDS
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