Author: Chris Manderson
Source: PEHUB.COM
Interest: The Securities and Exchange Commission (SEC) will not meet the first rulemaking deadline mandated under the Jumpstart Our Business Startups Act (JOBS Act), according to testimony Chairman Mary Schapiro delivered to Congress on June 28. Schapiro said it was “not feasible” to meet the JOBS Act’s 90-day deadline for the implementation of changes to Securities Act Rule 506 to permit general solicitation in private placements to accredited investors.
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