FINRA Proposes New Rule for Certain Private Placements of Securities

October 27, 2011
The Securities and Exchange Commission is requesting comments on Financial Industry Regulatory Authority (“FINRA”) Proposed Rule 5123. The Proposed Rule would establish certain disclosure and filing requirements for FINRA member firms and associated persons that participate in a private offering of securities. This update reviews the Proposed Rule and highlights issues that may be of particular concern to broker-dealers and other interested parties.