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Outpatient Surgery E-Weekly

Contact Congress Over Drug Shortage Issues

A Kentucky congressman is urging surgical facilities to contact their members of Congress and request that they sign his letter demanding changes to...

N.J. Posts ASC Inspection Reports Online

State and federal inspection reports of New Jersey's ASCs are now available online, giving patients an opportunity to make more informed choices abo...

Are Opioids Necessary?

While it's not always practical, or even possible, to eliminate opioids from your post-op pain management regiment, reducing their use in favor of n...

Archive > October, 2003 Vol. IV, No. 10

Legal Update

Steps for the Smooth Sale of Securities

Lorin E. Patterson, Esq.

Lorin E. Patterson, Esg. When raising capital for outpatient surgery projects, most physicians and management companies assume they can rest easy if the transaction complies with fraud-and-abuse and anti-referral statutes. But the penalties for violating securities laws could include large fines, hefty legal defense costs and jail time - and you'd have to rescind the transaction and refund investors' money, with interest. Here, I'll explain Securities and Exchange Commission (SEC) rules for buying and selling outpatient center securities and steps to take to avoid penalties.

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Categories: Business Management, Legal/Regulatory
Keywords:
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Commission; D Unless; Discussion; Exchange Commission; Generally; Give; Registration; Regulation; Regulation D Unless; SEC; Schedule; Securities; Wait; activities; advertising; advice; analyzed; anti-referral; assume; avoid; begin; business; buying; capital; carefully; center; circular; circulating; closing; communication; companies; company; complete; complies; conducting; contact; continuing; costs; defense; defin-ed; describe; detailing; determine; disclose; discussing; easy; ensures; exception; execution; exempt; exempted; exemption; existing; expand; experienced; explain; factors; falls; featuring; federal; financial; find; focuses; fraud-and-abuse; fully; general; generically; geographic; guidelines; harbor; hefty; hospital; impermissible; inadvertently; include; information; initial; interested; introductory; investment; investor; investor-qualification; investors; invite; issue; jail; large; law; lawyer; legal; letter; level; mail; management; market; materials; meeting; mind; money; non-public; obtain; occur; offering; outpatient; participants; payment; penalties; period; permits; person; persons; physician; placement; popular; potential; practices; pre-existing; private; privileges; proceed; prohibit; project; protections; prove; questionnaire; questions; raising; reasonable; recruited; recruitment; refer; refund; register; regulatory; relationship; renders; rescind; resources; rest; review; risks; rules; safe; sales; securities; securities-related; security; selling; sending; solicitation; sophisticated; sought; specific; specifically; state; steps; structure; structuring; surgery; time; time-consuming; transaction; typically; understand; venture; violate; violating; wealth; withstand

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