Analysis

SEC Push To Expand Access To Private Offerings Invites Risk

Law360 (September 11, 2018, 8:13 PM EDT) -- An expected proposal by the U.S. Securities and Exchange Commission that would expand who can participate in private securities offerings could modernize decades-old standards that bar many investors from access to high-growth companies, experts say, but not without inviting new risks.

SEC Chairman Jay Clayton, in a recent speech to entrepreneurs in Nashville, Tennessee, said agency staff is developing a proposal that would seek feedback on whether the SEC should expand current rules that limit investment in private companies to individuals of certain wealth or income and instead consider a broader range of criteria, including an investor’s sophistication.

The proposal would...

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