On August 29, 2012, the SEC released proposed amendments that, if enacted, would remove the ban on general solicitation and general advertising in connection with private placements under Rule 506 of Regulation D and Rule 144A under the Securities Act. These new amendments would satisfy the requirement contained in Section 201(a) of the Jumpstart Our Business Startups Act, or the "JOBS Act," that the SEC remove these prohibitions.
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