MFA Submits Comments to SEC on FINRA Rule 5123

On Friday, June 29, MFA submitted comments to the SEC in response to its notice of the Financial Industry Regulatory Authority’s (“FINRA”) amendments to proposed Rule 5123 and the SEC’s order granting accelerated approval of the rule. In the letter, MFA explains that the requirement to file a PPM or other disclosure document with FINRA in connection with certain private placements would would conflict with the statutory scheme for the regulation of offerings by private funds under the federal securities laws, and impose an unnecessary burden on issuers.