Regulatory Update: FINRA Issues Private Placement Guidance

FINRA issued Guidance that covers a range of private placement topics, from the basic question of “What is a private offering?” to more technical discussions on broker-dealer compliance with FINRA’s private placement rules under FINRA Rule 5122 and Rule 5123. This FAQ covers a number of topics, including whether a placement agent can file on behalf of other placement agents, the types of offering materials that must be filed and certain supervisory review requirements.

FINRA now has the following private placement resource materials:

Guidance

Firm Guidance – Private Placement Filings

This reference guide covers a range of private placement topics, from the basic question of “What is a private offering?” to more technical discussions on broker-dealer compliance with FINRA’s private placement rules.

July 16, 2019

Rule Interpretation

Interpretive Letter to Brian Sweeney, Trustmont Financial Group, Inc.

Request for Interpretive Guidance on FINRA Rule 2111 (Suitability) in Relation to EB-5 Program Securities Transactions

August 26, 2013

FAQ

Private Placement Frequently Asked Questions (FAQ)

Frequently asked questions about private placements.