Blogs

Rule 509

While I was waiting to see what surprises the Securities and Exchange Commission had blanketed in the rule lifting the ban on popular solicitation and marketing for private placements, the SEC slipped in an sudden surprise. The SEC is proposing a new Rule 509. Rule 509 would require disclosures on “any written verbal exchange that constitutes a commonplace solicitation or regular advertising.” (1) The securities may also be bought solely to…