If you were anxiously awaiting the guidance to be provided at the SEC’s Open Meeting on the JOBS Act Title II- provisions mandating the removal of the ban on general solicitation and advertising for Rule 506 offerings, then you will have to wait just a little while longer.
The SEC today announced that it has dropped the JOBS Act Title II items from the August 22nd Open Meeting. Instead the meeting will focus on the adoption of rules to implement Dodd-Frank Act provisions regarding conflict minerals and resource extraction issuers.
In a new notice, the SEC announced it will address the general solicitation and advertising rules on August 29, 2012. At this meeting the SEC will “consider” rules to implement JOBS Act Title II.
Author: Jennifer Trowbridge, Stoecklein Law Group, LLP