FINRA Proposes To Add Retail Communications To Private Placement Filing Requirements

Hogan Lovells Cadwalader is a global law firm trusted by clients to deliver on complex, high-stakes matters.

Operating at the intersection of business, finance, and government, we bring an unwavering commitment to client service and the decisive counsel that helps clients achieve exceptional results.

Consistently recognized for innovation across legal services, we combine sharp judgment with deep commercial perspective and intellectual rigor to address critical, cutting-edge challenges.

With 3,100 lawyers worldwide, we offer global scale with strong local insight in the markets that matter most. Our commitment extends beyond client work through pro bono activities, community investment, and responsible business practices.

Explore Firm Details

FINRA proposed to amend its private placements filing requirements to include retail communications.

United States Finance and Banking

Article Insights

Hogan Lovells Cadwalader are most popular:

within Intellectual Property, International Law, Litigation and Mediation & Arbitration topic(s)

FINRA proposed to amend its private placement filing requirements to include retail communications.

The proposal would amend FINRA Rule 5122 ("Private Placements of Securities Issued by Members") and FINRA Rule 5123 ("Private Placements of Securities") to require that members who offer such securities file retail communications concerning the offering. FINRA said "examples of these retail communications can include web pages that promote the offering, slide presentations, pitch decks, one-page "'teasers,' fact sheets, sales brochures, executive summaries, and investor packets."

Comments on the proposal must be submitted no later than 21 days after its publication in the Federal Register.

Primary Sources

FINRA Notice of Filing and Immediate Effectiveness: Proposed Amendments to FINRA Rules 5122 (Private Placements of Securities Issued by Members) and 5123 (Private Placements of Securities) That Would Require Members to File Retail Communications

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

[View Source]

FINRA Proposes To Add Retail Communications To Private Placement Filing Requirements

Contributor

Primary Sources

Finance and Banking

Contributor

United States