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Smaller Firms To Benefit From New Securities Rule
February 2008 | Top StoriesSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The Securities and Exchange Commission (S.E.C) has extended a helping hand to small and medium-size publicly traded firms trying to raise cash by revising the laws governing the sale of so-called restricted securities. These are shares or bonds that are sold in private placements, usually at a discount of around 10% of the market price. The new rules, which were unanimously passed in November by the S.E.C, will take effect on February 15 and only concern companies that have annual revenues under $700 million.