SEC Will Take Up JOBS Act Changes to Rules 506 and 144A

At its next Open Meeting on August 22, the SEC will consider rules to eliminate the prohibition against general solicitation and general advertising in Rule 506 and Rule 144A offerings, as mandated by the JOBS Act.

Other items include:

• whether to adopt rules regarding disclosure and reporting obligations with respect to the use of conflict minerals to implement the requirements of Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
• whether to adopt rules regarding disclosure and reporting obligations with respect to payments to governments made by resource extraction issuers to implement the requirements of Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.