Final Rule Changes To Rules 144 And 145 Under The Securities Act Of 1933.
Mondaq Business Briefing › Nbr. 2008, March 2008
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Final Rule Changes To Rules 144 And 145 Under The Securities Act Of 1933.
On November 15, 2007, the Securities and Exchange Commission (the "SEC") voted unanimously to adopt changes to Rules 144 and 145 under the Securities Act of 1933, as amended (the "Securities Act"), including a change to shorten the holding period requirements for restricted securities. The modifications to Rules 144 and 145 will promote capital formation at lower cost and reduce reporting obligations, which will be of particular benefit to smaller public companies.
Existing Rule 144 Under the Securities Act, all offers and sales of securities in interstate commerce or by use of the mails must be registered unless an exemption from registration is available. Section 4(1) of the Securities Act provides such an exempt...See the full content of this document
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