The Securities Industry Association is suggesting the SEC make it easier for companies to privately place securities with large investors without registering with the SEC.
The trade group wants the SEC to expand the types of investors eligible to buy private placements to those investing $25 million from the current limit of those buying $100 million. The association also asked the SEC to let companies include convertible securities and stock warrants not exercisable for at least six months in private placement offerings that don't have to be registered.
In a letter to the SEC, the association said changes in the capital-raising process have created a need ``for prompt reform'' of certain securities rules.
