CFTC Grants JOBS Act Relief

The CFTC exemptive letter provides consistency with the Jumpstart Our Business Startups Act (JOBS ACT), which was enacted on April 5, 2012.  Pursuant to a legislative directive, the SEC adopted amendments to its rules last year, eliminating the prohibition on general solicitation or general advertising in offerings.  The CFTC has issued the exemptive order which provides consistency with the SEC’s rules.  There is a process for obtaining relief.  More details may be found in the CFTC Letter No. 14-116 here.