NASD Plans To Launch Private Placement System
THIS WEEK'S LEAD STORIES
A proposed rule that the Securities and Exchange Commission expects to approve by yearend will loosen restrictions on the U.S. private placement market and pave the way for PORTAL, an electronic private placement system to be operated by the National Association of Securities Dealers. Together, the new rule and the NASD system initiative could create a NASDAQ-like secondary market for private placement securities in the U.S.
The SEC hopes that Rule 144A will encourage foreign companies to
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