Wednesday, July 10, 2013

Breaking News: General Solicitation Ban for Private Investments Lifted

The SEC commissioners just voted 4-1 to end the ban on general solicitation, which could result in some fundamental changes for the private capital markets (both companies and funds). 

This change may make it possible for angel groups to promote their deals to a wider audience.

But the SEC also put some new rules in place, which could complicate things for those who want to take advantage of the new flexibility (and help provide lots more billable hours for attorneys).

We expect the Angel Capital Association will assist us in interpreting the new rules.

For more details, please go here to read Dan Primack’s thoughts directly.

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