SEC to vote on controversial Reg D proposal

AUG 29, 2012
By  DJAMIESON
The Securities and Exchange Commission is set to vote Wednesday on whether to propose controversial rules allowing issuers of private securities, such as hedge funds, to make solicitations to the public. The SEC had been set to approve an interim rule last week that would have removed a ban on the solicitation and advertising of Regulation D private securities immediately. But facing a storm of protest from state regulators and investors' groups, the agency backtracked. It now is expected to follow the normal 30-day comment process. The rule change is mandated under the Jumpstart Our Business Startups Act. djamieson@invesmentnews.com Twitter: @dvjamieson

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