Interpretive guidance unlocks general solicitation in Regulation D offerings with user-friendly, bright-line approach.
On March 12, 2025, Latham & Watkins obtained SEC Staff guidance on the use of general solicitation in private placements. The new guidance unlocks the potential of Regulation D Rule 506(c) and will facilitate new approaches to raising capital in the private markets, including fundraising by private fund sponsors and other private capital participants. In particular, the guidance provides a clear roadmap to raise capital from accredited investors in the United States while using general solicitation and advertising as part of a securities offering exempt from Securities Act registration.
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