Publicity Restrictions
Definition:
Restrictions placed on what the issuer and underwriters can write, say, publish, or send during an offering. These restrictions are dictated by the securities laws in the jurisdiction in which an offering is marketed. The specific restrictions an issuer or underwriter may face are dependent upon the type of offering and care should always be taken to ensure these restrictions are not breached.
Publicity Restrictions were eased under the JOBS Act which amended Rule 144A and Rule 506 under Regulation D to permit the use of General Solicitation and General Advertising in certain Private Placements.
It is important to note that the JOBS Act did not alter the requirements relating to Directed Selling Efforts in Regulation S Offerings.