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SEC to Hold Open Meeting on Lifting Ban of General Advertising in Securities

The U.S. Securities and Exchange Commission scheduled a meeting for Wednesday, July 10 to consider rule amendments mandated by the JOBS Act, and other related amendments. The Commission will consider adopting an amendment to lift the ban on “general solicitation and general advertising” in certain securities products, as mandated by the JOBS Act.  The Commission also will consider whether to adopt amendments to disqualify securities offerings involving certain “felons and other bad actors’” from relying on the exemption from registration for certain securities offerings.  In addition, the Commission will consider a proposal intended to enhance the Commission’s ability to evaluate changes in the market and to address the development of practices in certain securities offerings.