Rule 506 “Bad Actor” Disqualification Provisions

09/14/2016 12:00 p.m. - 01:00 p.m. EDT

Capital Markets, Financial Institutions + Financial Services, Private Placements + PIPEs, and Broker-Dealer Compliance + Regulation

Bradley Berman


Trevor Starer
(212) 336-4310

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“Bad actor” disqualification requirements prohibit issuers and others, such as underwriters, placement agents, directors, officers, and shareholders of the issuer, from participating in exempt securities offerings if they have been convicted of, or are subject to court or administrative sanctions for, securities fraud or other violations of specified laws. As we approach the third anniversary of the effectiveness of the new rules, this teleconference will address:

  • Who’s covered?
  • What are the disqualifying events?
  • How does an issuer determine whether a covered person is disqualified?
  • Does the SEC grant waivers from the disqualification provisions?
  • How do you satisfy the SEC’s standards for granting a waiver?


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