Our lawyers provide innovative and practical counsel on a wide variety of capital raising and securities law compliance matters. We represent clients ranging from emerging private companies to established public companies. With each, we build long-term relationships, generating efficiencies and helping them realize their business goals.
FINRA Revises its Proposal on Private Placements
October 28, 2011
FINRA has proposed new Rule 5123 (Private Placements of Securities), which would require FINRA member firms to provide investors in private placements with detailed information about the intended use of proceeds of the private placement. Members would also be required to file a copy of such disclosure with FINRA after sales are first made to investors. The proposed rule would apply to private placements by all issuers, other than members and their affiliates.