SEC Seeks Comments on New JOBS Act Rules
Washington, DC - The Securities and Exchange Commission is seeking comments of its news rules to implement a JOBS Act requirement to lift the ban on general solicitation or general advertising for certain private securities offerings. The SEC proposed the rules on July 10, 2013. Comments are due no later than September 23, 2013.
The new rules are posted in the Federal Registry (78 FR 44771). The SEC has opened a Web page where the public can post comments online and review facts and the proposed rules under the JOBS Act. The effective date for the new rules are slated for September 23, 2013.
Urging the commission to take action on the general solicitation rules under Title II of the JOBS Act, SEC Chair Mary Jo White noted “in my view, given the explicit language of the JOBS Act as well as the statutory deadline that passed last July, the Commission should act without any further delay.”