Goldman Limits Facebook Investment to Foreign Clients because of SEC/NYT

Re:Goldman Limits Facebook Investment to Foreign Clients bec... by shareme on Monday January 17, 2011 @09:10PM (#2114261)

Something is wrong. SEC review will happen no matter if the investors are US or not, hence it snot the real reason obviously.

Question what is the difference banking laws wise if its non US institutional investors compared to US institution investors? Remember GS is now bank holding company thus it might nor be SEC but bank holding laws influencing the change..

Or it may be that non-US investors balked at US media coverage and GS hopes to duck that coverage in the future..

[ Parent | on HN ]

Re:Goldman Limits Facebook Investment to Foreign Clients bec... by mdda on Monday January 17, 2011 @11:34PM (#2114613)

IANAL, but: Banking law isn't relevant here : This is to do with offerings of securities.

The SEC regulates offerings in the US. Goldman is no longer offering these securities in the US, so the SEC is not involved.

As someone else points out, if a US client seriously wants to jump through hoops to invest, I'm sure Goldman would help out an offshore entity.

[ Parent | on HN ]