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.