The Jumpstart Our Business Startups Act, enacted earlier in 2012 (the “JOBS Act”), directed the SEC to amend Rule 506 of Regulation D (“Rule 506”) of the Securities Act of 1933, as amended (the “Securities Act”), to allow issuers to engage in “general solicitation” and “general advertising” in offerings made under Rule 506, so long as all purchasers of the securities in such offerings are accredited investors.
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Industry groups react to proposed rules to remove prohibitions on general solicitation and general advertising in certain Regulation D offerings
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