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The Commission Will Finally Consider Adopting the Rules to Eliminate the Ban on General Solicitation and Advertising and the Bad Actor Rules

On Wednesday of next week the Securities and Exchange Commission will hold an open meeting to finally consider:

  • adopting the amendments (first proposed in May 2011) to disqualify securities offerings involving certain “felons and other ‘bad actors’” from reliance on Rule 506 of Regulation D, as required by Section 926 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The Commission also plans to propose new amendments to Regulation D, Form D and Rule 156 under the Securities Act which are intended to enhance its ability to evaluate changes in the market and address the development of practices in Rule 506 offerings

It looks like Wednesday’s going to be a busy day …

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