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Rule 506 “Bad Actor” Disqualification from 506 Safe Harbor



by Shartsis Friese LLP - San Francisco Office

October 1, 2013

Previously published on September 19, 2013

On July 10, 2013, the SEC adopted rules prohibiting the use of Rule 506 of Regulation D (“Rule 506”) for any securities offering involving certain “bad actors” (the “Rule”). We addressed the Rule in our letter dated August 2, 2013. This letter reminds advisers that manage private funds of actions to consider soon, given that the Rule goes into effect on Monday, September 23, 2013 (the “Effective Date”).


 

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