From Precy Dumlao, Opalesque Asia – The easing on the ban on "general solicitation" and "general advertising" under the Jumpstart Our Business Startups Act, or JOBS Act, enacted 5 April 2012 will have a major impact on hedge funds and will likely change the industry’s landscape, said a partner and a special counsel at international law firm Schulte Roth & Zabel.
SRZ partner Marc E. Elovitz and special counsel Brad L. Caswell, co-authored an article entitled, The Long View: How Hedge Fund Advertising Has Been Impacted by the JOBS Act, that analyzes the impact of the JOBS Act, especially now that the U.S. Securities and Exchange Commission has submitted its proposal to enforce the new law.
Last week, the SEC belatedly submitted proposed rules to eliminate the prohibition against general solicitation and general advertising in certain securities offerings. The SEC was originally tasked to submit the proposals last July.
"I believe that the proposed rules fulfil Congress’s clear directive that issuers be given the ability to communicate freely to attract capital, while obligating them to take......................
To view our full article Click here