SEC Eases Rules Governing Private Placements

12 November 2020
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Key takeaways:
  • On November 2, the SEC adopted changes easing the rules governing private placements.
  • The SEC replaced the five-factor integration test and shortened the six-month integration safe harbor under Regulation D to a 30-day integration safe harbor.
  • The amendments should enable pre-IPO companies to continue raising capital privately until shortly before their IPO.