• Securities Offering Reform: Sweeping Changes to Public Offering Process Take Effect on December 1
  • October 24, 2005
  • Law Firm: Wilmer Cutler Pickering Hale and Dorr LLP - Washington Office
  • The Securities and Exchange Commission has adopted rules that significantly change the communications, registration and offering processes under the Securities Act of 1933 (the Securities Act), eliminating unnecessary, outmoded restrictions on public offerings of securities and providing for more timely delivery of investment information to investors. The new rules, which become effective on December 1, 2005 (the Effective Date), cover three main areas: communications related to registered securities offerings; registration and other procedures in the offering and capital formation processes; and delivery of information to investors and the timeliness of that delivery.