Title II Rulemaking Set For August 22 Open Meeting

Author:Mr David Lynn
Profession:Morrison & Foerster LLP

On the heels of last week's announcement by Chairman Schapiro that the SEC did not plan to adopt changes to Rule 506 of Regulation D and Rule 144A by the 90-day deadline contemplated in the JOBS Act, the SEC issued a Sunshine Act Notice announcing that the Title II rulemaking will be considered at a Commission Open Meeting scheduled for August 22. The Sunshine Act Notice indicates that the Commission will consider rules to eliminate the prohibition against general solicitation and general advertising in securities offerings conducted pursuant to Rule 506 and Rule 144A, as mandated by Section 201(a) of...

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