SEC votes to lift 80-year-old solicitation ban
This article was originally published in Scrip
Executive Summary
The Securities and Exchange Commission (SEC) on 10 July voted 4-1 to adopt a rule mandated under the Jumpstart Our Business Startups (JOBS) Act (HR 3606) to permit startups and small companies seeking to raise money in the US capital markets to fund their operations by reaching investors through general solicitation and advertising – lifting a ban put in place 80 years ago under the Securities Act of 1933.