United States:
SEC Adopts Changes Preventing Bad Actors From Using The Most Popular Private Placement Exemption – Rule 506
30 July 2013
McGuireWoods LLP
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The SEC has adopted provisions which prevent felons and other
bad actors from relying on Rule 506 of Regulation D, the most
frequently used private placement rule.
These changes are mandated by Section 926 of Dodd Frank, and are
required to be substantially similar to Rule 262 under the
Securities Act, which contains the disqualification provisions for
Regulation A.
The new provisions will become effective on September 23,
2013.
To read the Executive Summary and access the white paper on
the adopted SEC provisions, please click here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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