Regulatory Alerts2013-07-24 | 2013-16884Added · Updated
Amendments to Regulation D, Form D and Rule 156
The Securities and Exchange Commission proposes amendments to Regulation D, Form D, and Rule 156 to address investor protection and market transparency concerns arising from the new Rule 506(c) exemption permitting general solicitation. The proposed rules require issuers to file Form D before engaging in general solicitation, submit written solicitation materials to the Commission on a temporary basis, and include specific legends and disclosures in such materials. Additionally, the amendments expand Form D content requirements, extend antifraud guidance to private fund sales literature, and disqualify issuers from Rule 506 reliance for one year if they fail to comply with prior Form D filing obligations.
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