In a move that will have wide-spread implications for issuers seeking to raise capital through a private placement, the SEC is considering significant changes to Regulation D.
The proposals include a new exemption for offerings made to "large accredited investors" and to permit limited advertising to those investors; a clarification of the term "accredited investor"; and a shorter time frame for integration.
The release is 121 pages long, and the comment period ends October 9, 2008.
