Reuters: Regulatory News: US SEC votes to lift ban on advertising private offerings

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US SEC votes to lift ban on advertising private offerings Aug 29th 2012, 15:06 WASHINGTON | Wed Aug 29, 2012 11:06am EDT WASHINGTON Aug 29 (Reuters) - The U.S. Securities and Exchange Commission on Wednesday voted to lift a decades-old ban on general advertising of private stock offerings to investors. The change, approved by a vote of 4-1, is aimed at making it easier for companies to raise capital. The change was mandated by the JOBS Act, signed into law in April. The proposal to lift the ban was criticized by consumer and investor advocates, who said it rolled back important investor protections. Democratic Commissioner Luis Aguilar voted against the change, citing concerns about increased investor vulnerability.

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