Partner Daniel Lenihan and Counsel Raymond Hum Author Article in Bloomberg BNA

Bloomberg BNA has published an article authored by Daniel Lenihan and Raymond Hum entitled “New Rule 506(c) and Unregistered Offerings in the U.S. Institutional Market: Flexibility to Use General Solicitation in the Internet-Enabled Market.”

The article appears in the March 31 issue of BNA Bloomberg's Securities Regulation & Law Report and discusses the allowance provided by the new rule to use general solicitation and advertising in certain private offerings to accredited investors. Last fall, the SEC amendments to amended Rule 506 of Regulation D to permit general solicitation became effective. The authors describe the consequences of the changes and conclude that the revised regulation may lead to greater efficiency in the sale of unregistered securities in the U.S. institutional market.