Reuters: Regulatory News: U.S. SEC delays consideration of JOBS Act rule

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U.S. SEC delays consideration of JOBS Act rule Aug 21st 2012, 19:51 Tue Aug 21, 2012 3:51pm EDT Aug 21 (Reuters) - The U.S. Securities and Exchange Commission has delayed for a week its consideration of new rules to lift the ban on general advertising for private securities offerings, the regulator said on Tue sday. The commission was set to consider the controversial solicitation rules during a meeting on Wednesday. Commissioners instead will take up the rules during an Aug. 29 meeting, according to the SEC website. The SEC has already missed a 90-day deadline to implement the rules as required by the Jumpstart Our Business Startups Act, or JOBS Act, which was signed into law in April. The law scales back a variety of securities regulations to help smaller companies raise capital and spur job growth. SEC spokesman John Nester declined to comment on the reason for the delay.

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