Subscribe Subscribe   Find us on Twitter Follow POL on Twitter  



SEC Extends Deadline for Comments on Form D Amendments

| No Comments

Citing a "large amount of public interest" the SEC has extended the comment period by an additional thirty days (counting from the date the notice of the extension is published in the federal register).

Publication in the federal register generally takes a few business days, so the extended comment period will probably run until sometime in early November.

An informal survey of the comments submitted so far can be summarized as "339 opposed, 9 in favor and 30 irrelevant or incomprehensible."

The extended comment period (probably intended to buy the SEC more time to figure what to do with the mess it has created) will unfortunately tend to increase the confusion already present in the market place. For those keeping score, there were three related releases on July 23rd, two became effective on September 23rd and the third (regarding amendments to Form D) has had its comment period extended. So, if you are an issuer engaged in a Rule 506 offering you need to think through the decision to stay private (Rule 506(b)) or engage in public solicitations (Rule 506(c)).

If you opt for public solicitations, you should expect that the SEC is going to require you to do something on your Form D, but, because those rules are not yet adopted, we can't know for certain what that will be.

Leave a comment

Once submitted, the comment will first be reviewed by our editors and is not guaranteed to be published. Point of Law editors reserve the right to edit, delete, move, or mark as spam any and all comments. They also have the right to block access to any one or group from commenting or from the entire blog. A comment which does not add to the conversation, runs of on an inappropriate tangent, or kills the conversation may be edited, moved, or deleted.

The views and opinions of those providing comments are those of the author of the comment alone, and even if allowed onto the site do not reflect the opinions of Point of Law bloggers or the Manhattan Institute for Policy Research or any employee thereof. Comments submitted to Point of Law are the sole responsibility of their authors, and the author will take full responsibility for the comment, including any asserted liability for defamation or any other cause of action, and neither the Manhattan Institute nor its insurance carriers will assume responsibility for the comment merely because the Institute has provided the forum for its posting.

Related Entries:



Rafael Mangual
Project Manager,
Legal Policy

Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.