To recap, the JOBS Act of 2012 required the SEC, by last summer, to write rules to implement the lifting of the ban on general solicitation in Rule 506 offerings where all purchasers are accredited investors.
The difficult aspect of this charge from Congress was in figuring out how to implement the "verification" mandate also imposed by Congress: one way or another, it's going to take more process and effort to validate who is and is not accredited, at least with respect to offerings that want to utilize general solicitation.
To read the original article: The JOBS Act: Will It Soon Be Legal For Startups To Advertise For Investors? | The VC Experts' Buzz | VC Experts
