United States:
SEC Staff Provides Rule 506(c)/Rule 144A Guidance
22 November 2013
Morrison & Foerster LLP
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Today, the SEC Staff in the Division of Corporation Finance
updated the Securities Act Rules Compliance and Disclosure
Interpretations to provide a number of new interpretations
regarding Rule 506(c) and revised Rule 144A. The Staff
updated Sections 138 and 260 of the Securities Act Rules Compliance
and Disclosure Interpretations, which can be found at: http://www.sec.gov/divisions/corpfin/guidance/securitiesactrules-interps.htm.
Because of the generality of this update, the information
provided herein may not be applicable in all situations and should
not be acted upon without specific legal advice based on particular
situations.
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