JULY 12, 2013

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SEC lifts ban on general solicitation

by Andrea Waitrovich

The Securities and Exchange Commission (SEC) voted 4 to 1 to lift an 80-year-old ban on advertisements of private offerings on July 10, 2013.

“We welcome the SEC’s lifting of the ban on ‘general solicitation’ and the opportunity to more openly discuss our business in appropriate forums, including discussions at industry conferences and with the press,” says Mike McMenomy, global head of investors services at CBRE Global Investors. “Enabling investment managers to more freely share information about fund offerings will benefit accredited investors by giving them access to the broadest range of information about programs in which they are interested and qualified to invest.”

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