Tuesday, August 27, 2013
Since December 2012, the Financial Industry Regulatory Authority, Inc. (FINRA) has required member firms participating in certain private placements to file a copy of the offering document and other information within fifteen calendar days of the date of first sale. On August 19, 2013, FINRA issued a Regulatory Notice expanding the types of information issuers are asked to provide in such filings.
This Client Alert from the Wyrick Robbins Banking & Financial Institutions Practice Group reviews these changes and discusses their possible impact. Attached to the Alert are a copy of FINRA’s revised Private Placement Form and accompanying Frequently Asked Questions (FAQ).