Thursday, January 17, 2013

In December FINRA’s new Rule 5123 went into effect.  The Rule requires members selling securities issued by non-members in a private placement to file the private placement memorandum, term sheet or other offering documents with FINRA within 15 days of the date of the first sale of securities, or indicate that there were no offering documents used. The Regulatory Notice, which includes the text of the rule is available here - Private Placements of Securities SEC Approves New FINRA Rule 5123 Regarding Private Placements of Securities.


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