Monday, June 11, 2007

NASD Seeks Comment on New Rule on Member Stock Offerings

Citing unidentified "problems" with private offerings of their own securities by NASD member firms, the NASD is proposing to adopt Rule 2721 - Private Placements of Securities Issued by Members.

The rule will set standards for a PPM and filing of the PPM with the NASD prior to the offering.

The comment period ends July 20, 2007, the link to the notice is in the headline.
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