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SEC Proposes Amendments to Facilitate Access by WKSIs to Investors in Advance of Filing a Registration Statement
January 11, 2010
The SEC has recently proposed amendments to Rule 163(c) under the Securities Act of 1933. Under the proposed amendment, a WKSI would be able to authorize an underwriter or dealer to act on its behalf in communicating with prospective investors about potential offerings prior to the filing of a registration statement. This change is expected to facilitate wall-crossed offerings, as it would permit WKSIs to mandate underwriters to make pre-marketing inquires on the WKSI's behalf in advance of filing a registration statement.