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Firm News 1 result
Firm News | 3 min read | 10.08.24
Corporate Partner Arinze Ike Joins Crowell & Moring’s New York Office
Arinze Ike joins Crowell & Moring’s Corporate Group as a partner in the firm’s New York office, expanding the firm’s transactional depth in securities and capital market transactions.
Client Alerts 1 result
Client Alert | 3 min read | 03.17.25
SEC Issues No-Action Letter Clarifying Accredited Investor Verification Under Rule 506(c)
The Securities and Exchange Commission (SEC) has issued a no-action letter providing interpretive guidance on the verification of accredited investor status in offerings conducted pursuant to Rule 506(c) of Regulation D under the Securities Act of 1933. Rule 506(c) permits issuers to engage in general solicitation or advertising in private offerings, provided that all purchasers are accredited investors and the issuer takes “reasonable steps” to verify the accredited status of all investors. The no-action letter introduces a streamlined approach, stating that, absent contrary indications known to the issuer, reliance on sufficiently high minimum investment thresholds—coupled with specific written representations from purchasers—may satisfy the verification requirement.
