United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2013_register executive 2013-07-24 article Part IV Rules and Regulations D09002ee1c7fb34c3 D09002ee1c7fb35b3 United States Securities and Exchange Commission originator org United States Government Agency or Subagency We are adopting amendments to our rules to implement Section 926 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 926 requires us to adopt rules that disqualify securities offerings involving certain "felons and other `bad actors"' from reliance on Rule 506 of Regulation D. The rules must be "substantially similar" to Rule 262 under the Securities Act, which contains the disqualification provisions of Regulation A under the Securities Act, and must also cover matters enumerated in Section 926 of the Dodd-Frank Act (including certain state regulatory orders and bars). 78 FR 44730 https://www.govinfo.gov/app/details/FR-2013-07-24/2013-16983 2013-16983 fr24jy13-19 RIN 3235-AK97 8010-01-P Release No. 33-9414 File No. S7-21-11 https://www.govinfo.gov/app/details/FR-2013-07-24/2013-16983 https://www.govinfo.gov/content/pkg/FR-2013-07-24/html/2013-16983.htm https://www.govinfo.gov/content/pkg/FR-2013-07-24/pdf/2013-16983.pdf Administrative Practice and Procedure Authority Delegations (Government Agencies) Organization and Functions (Government Agencies) Reporting and Recordkeeping Requirements Securities 42 p. 44730 44771 78 FR 44730 Title 17 Part 200 17 CFR Part 200 Title 17 Part 230 17 CFR Part 230 Title 17 Part 239 17 CFR Part 239 RIN 3235-AK97 Disqualification of Felons and Other “Bad Actors” From Rule 506 Offerings; Federal Register Vol. 78, Issue RULE 2013-16983 IV SECURITIES AND EXCHANGE COMMISSION 2013-09-23 Release No. 33-9414 File No. S7-21-11 8010-01-P 2013-16983 Final rule.

We are adopting amendments to our rules to implement Section 926 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 926 requires us to adopt rules that disqualify securities offerings involving certain "felons and other `bad actors"' from reliance on Rule 506 of Regulation D. The rules must be "substantially similar" to Rule 262 under the Securities Act, which contains the disqualification provisions of Regulation A under the Securities Act, and must also cover matters enumerated in Section 926 of the Dodd-Frank Act (including certain state regulatory orders and bars).

Effective Date: September 23, 2013. Johanna Vega Losert, Special Counsel, Karen C. Wiedemann, Attorney Fellow, or Gerald J. Laporte, Office Chief, Office of Small Business Policy, Division of Corporation Finance, at (202) 551-3460, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-3628. Administrative Practice and Procedure Authority Delegations (Government Agencies) Organization and Functions (Government Agencies) Reporting and Recordkeeping Requirements Securities Disqualification of Felons and Other Bad Actors from Rule 506 Offerings , rule-comments@sec.gov http://www.cftc.gov/ucm/groups/public/@aboutcftc/documents/file/2012apr.pdf http://www.cftc.gov/ucm/groups/public/@lrenforcementactions/documents/file/pbproceedingsbulletin.pdf http://www.icifactbook.org http://www.nasaa.org/wp-content/uploads/2011/07/24-Model_Accredited_Investor_Exemption.pdf http://www.nasaa.org/wp-content/uploads/2011/08/2012-Enforcement-Report-on-2011-Data1.pdf http://www.regulations.gov http://www.sec-oig.gov/Reports/AuditsInspections/2009/459.pdf http://www.sec.gov/comments/df-title-ix/regulation-d-disqualification/regulationddisqualification-3.pdf http://www.sec.gov/comments/s7-21-11/s72111.shtml http://www.sec.gov/divisions/riskfin/whitepapers/dera-unregistered-offerings-reg-d.pdf http://www.sec.gov/info/smallbus/acsec/rebuilding_the_ipo_on-ramp.pdf http://www.sec.gov/info/smallbus/sbforumtrans-111810.pdf http://www.sec.gov/rules/final.shtml http://www.sec.gov/spotlight/regreformcomments.shtml Vol. 78, no. 142 Office of the Federal Register, National Archives and Records Administration 2013-07-24 continuing daily deposited born digital 460 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2013-07-24 P0b002ee18598b349 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr24jy13 https://www.govinfo.gov/app/details/FR-2013-07-24 https://www.govinfo.gov/content/pkg/FR-2013-07-24/pdf/FR-2013-07-24.pdf https://www.govinfo.gov/content/pkg/FR-2013-07-24/xml/FR-2013-07-24.xml fdlp 44419 44870 DGPO 2013-07-24 2024-06-03 FR-2013-07-24 machine generated eng FR FR-2013-07-24 78 142