SEC lifts ban on advertising private deals

07/28/2013 | Reuters

The Securities and Exchange Commission has adopted rules mandated by the Jumpstart Our Business Startups Act that remove restrictions on advertising private-placement deals, including changing Rule 144A for bond placements. "Basically, there is nothing private anymore, if you don't want it to be," said Anna Pinedo, partner at Morrison Foerster. "Companies and their initial purchasers can talk to the press about the 144A bond; you can issue a press release if you wish or post a roadshow presentation on a website -- as long as you comply with the 144A rule that the bonds are only sold to qualified institutional buyers."

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