FAQ: SEC Lifts Ban on General Solicitation

July 18th, 2013
Entrepreneurial Info

 by Chris Maxwell and Romeen Sheth

1. What are the two new rules the SEC adopted last week?

On July 10, 2013 the SEC (1) eliminated the prohibition on general solicitation and advertisement for securities offerings in which an issuer may privately raise an unlimited amount of capital from an unlimited number of accredited investors and up to 35 non-accredited investors and (2) adopted a rule to disqualify felons and other “bad actors” from participating in such securities offerings.

The elimination of the general ban on solicitation and advertisement fundamentally changes the way private offerings have been conducted

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MMM Ranked Nationally in VC, IPO and M&A Deals

Atlanta (June 2013) – Morris, Manning & Martin, LLP is again highly ranked in venture capital (VC), initial public offerings (IPOs) and mergers and acquisitions (M&A). Information from filings with the Securities & Exchange Commission and Dow Jones VentureSource ranks the firm in the top 10 nationally in two categories and the top 20 in a third.

• MMM ranks seventh as legal counsel for sales of venture capital-backed companies in the Eastern U.S. from 1996 to 2012. The firm handled 57 transactions over the 16-year period.

• The firm was also in

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