Trading in Restricted Securities


Morrison & Foerster LLP
1290 Avenue of the Americas
39th Floor
New York, NY 10104
Christie Adams
(212) 336-4024

In 2007, a number of competing private trading platforms were developed to enhance the over-the-counter trading of 144A equity securities. In 2009, the developers of some of these platforms joined together to form The PORTAL Alliance. Industry insiders were hoping that these trading platforms may provide an alternative exit option for private equity and venture capital firms’ portfolio companies, as well provide liquidity enhancements to traditionally privately placed securities.

This panel will discuss the legal regulatory concerns surrounding the offering and trading of privately placed securities, and will provide details on the current operation of the PORTAL Alliance platform and its role in the current private placement market.


  • Offering, trading and enhancing the liquidity for restricted securities 

  • Development of restricted securities trading platforms 

  • The PORTAL Alliance


  • Karin McKinnell, NasdaqOMX

  • Anna Pinedo, Morrison & Foerster LLP

  • Eric Wooley, Equity Capital Markets, Citi

Who should attend:

This event is intended for investment professionals, tax advisors, and both newly admitted and experienced attorneys.

New York CLE credit is pending for this event.




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