By Sidley Austin LLP
In June, the SEC issued a concept release to solicit public input on ways to simplify, harmonize, and improve the 1933 Act exempt offering framework. The current framework is complex, having evolved over time through legislative developments, Commission rulemaking and guidance, court cases and industry practices, according to a team of Sidley Austin attorneys. In this article, they review the many elements of the concept release, and encourage interested parties to provide comments that could form the basis for future sweeping changes in this area.
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