Morrison & Foerster partners, Ze’-ev D. Eiger and Daniel A. Nathan, presented West LegalEdCenter’s Webcast, “FINRA Actions and the Due Diligence Obligations of Broker-Dealers in Private Placements,” on October 29, 2013 at 1:00 p.m. EST.
This one hour session focused on the due diligence obligations of broker-dealers in private placements amidst increased scrutiny from FINRA, most notably, in the filing requirements for private placements since FINRA Rule 5123 went into effect on December 3, 2012. They also examined the broader trend of increased scrutiny, which is likely to continue despite the SEC’s recent adoption of the final rules implementing Section 201(a)(1) of the JOBS Act, relaxing the prohibition on general solicitation and general advertising for certain private placements under Rule 506 of Regulation D.
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