In the United States, the Securities and Exchange Commission (SEC) regulates the sale of equity or debt, known as Securities, to raise capital for a business venture. The Securities Act of 1933 generally requires a company offering and selling securities to file a registration statement containing information about itself and the securities it is offering. In some circumstances, the Securities Act permits the sale of securities to occur without SEC registration.
General solicitation means to publicly advertise an investment opportunity in a private company. In 2013 congress passed Title II of the JOBS Act, which for the first time allowed companies to offer securities through public solicitations and advertising. However, under Regulation D of the Securities Act any securities offered through a general solicitation must be purchased by Accredited Investors and follow other rules.
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