Regulatory Alerts2025-09-19 | 2025-18237Added
Commission’s Rules of Practice
The Securities and Exchange Commission amended Rule 431(e) of its Rules of Practice to eliminate the automatic stay of delegated staff actions regarding the acceleration of registration statement effectiveness and the qualification of Regulation A offering statements. This change ensures that market activities are not disrupted by automatic procedural stays when issuers rely on these specific acceleration and qualification processes. The Commission determined that case-by-case review is more appropriate to balance investor protection against the significant costs and uncertainty that automatic stays would impose on issuers and market participants.
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