In Regards to Rule 144a, Which of the Below Statements

Multiple Choice

In regards to Rule 144a, which of the below statements is FALSE?

A) Rule 144A encouraged non-U.S. corporations to issue securities in the U.S. private placement market by relaxing the requirement to hold the securities for two years.
B) Rule 144A encourages non-U.S. corporations to issue securities in the U.S. private placement market by relaxing the requirement to furnish necessary disclosure set forth by U.S. securities laws.
C) Rule 144A improved liquidity, reducing the cost of raising funds.
D) Rule 144A improved the liquidity of securities acquired by all institutional investors in a private placement.