The SEC's Division of Corporation Finance released instructions for issuers submitting draft registration statements under the JOBS Act.
PLC Corporate & Securities
On May 11, 2012, the SEC's Division of Corporation Finance (Division) issued instructions for submitting draft registration statements confidentially under the JOBS Act?(www.practicallaw.com/2-518-7869) or for non-public review under the Division's policy for certain foreign private issuers. The Division implemented a secure e-mail system to allow it to receive draft registration statements and to securely correspond with companies about their draft registration statements. On May 14, 2012, the secure e-mail system replaced the procedures previously described in its April 5 announcement (see Legal Update, SEC Division of Corporation Finance Issues Guidance on Confidential Registration Statement Submission under JOBS Act?(www.practicallaw.com/0-518-8619)).
Issuers must follow these new instructions on how to use the secure e-mail system. All submissions must:
For more on the JOBS Act, see Practice Notes, JOBS Act: On-ramp to the Capital Markets for Emerging Growth Companies Summary?(www.practicallaw.com/1-518-7351) and Road Map to the Jumpstart Our Business Startups (JOBS) Act of 2012?(www.practicallaw.com/6-518-6858).
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