REGULATION/LEGISLATION

SEC to meet Aug. 22 to discuss private investment marketing rules

The SEC will hold a meeting Aug. 22 to discuss rules that will eliminate the ban on general marketing and advertising by managers of private investment funds as mandated by Title II of the JOBS Act, which was enacted April 5.

An SEC announcement Tuesday did not indicate when the commission will issue rules governing how managers of private securities offerings such as hedge, private equity, real estate and real assets funds may advertise their investment vehicles.

In congressional testimony on June 28, SEC Chairwoman Mary L. Schapiro said “the commission will be in a position to act on a staff proposal in the very near future.”