Client Alert
SEC Proposes Revisions To Rules 144 And 145
August 17, 2007
The SEC recently proposed amendments to Rules 144 and 145 under the Securities Act of 1933. Among other things, the proposed amendments would reduce the applicable holding periods from the current one-year and two-year periods to six months or one year, depending upon the nature of the transaction, and would permit non-affiliates to resell securities freely after the applicable holding period, in each case subject to certain restrictions. The proposed amendments are designed to increase the liquidity of privately sold securities and decrease the cost of capital for all companies without compromising investor protection.
Click here to read our client alert on the proposed Rule 144 and 145 amendments.
If you have any questions regarding this client alert, please contact the Womble Carlyle attorney with whom you usually work or one of our Corporate and Securities attorneys click here.
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IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice within this client alert is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in a client alert.
