Tag Archives: waiver

SEC Staff Continues To Issue “Bad Boy” Waivers

The secret to obtaining a “bad boy” waiver from the Securities and Exchange Commission is to show: the bad act did not involve an intent to defraud; the misconduct did not involve the sale of securities; the actor has taken … Continue reading

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Roadmap To Getting “Bad Actor” Disqualification Waived

A recent SEC no-action letter provides a road map as to how to get the staff to waive your “bad actor” disqualification from participating in private placements: claim that there was no “intent” to commit the act; say that the … Continue reading

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Some “Bad Actors” Are More Equal Than Others

Are some “bad actors” more equal than others? The SEC has given admitted criminals waivers from the bad actor disqualification to participate in the private placement market. These criminals include some of the large international money center banks. Other smaller … Continue reading

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CFTC Settlement Provide for “Bad Boy” Exemptions

It pays to have smart lawyers. Money center banks who have found themselves as the subject of disciplinary orders from the Commodities Futures Trading Commission have settled cases with the inclusion of exemption language that provides them an automatic exemption … Continue reading

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How To Get A “Bad Actor” Waiver From the SEC

The Securities and Exchange Commission recently published a policy statement that describes its “bad actor” waiver process. As you recall, if there is a bad actor involved in your deal, you may not use certain exemptions from registration, including Rule … Continue reading

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Are Some Bad Actors More Equal Than Others?

Are some bad actors more worthy than others? Criminal and civil sanctions can bar banks from certain activities, including participating in the private capital markets. Securities and Exchange Commissioner Kara Stein thought so last year when the SECĀ gave a waiver … Continue reading

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Biggest “Bad Actor” in Town

Back in Sept. 2013, when the SEC amended Reg. D permitting advertising of private placements, it also issued a companion rule that said that persons that commit certain actions, including being a recipient of an SEC administrative disciplinary order, would … Continue reading

Posted in Broker dealers, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, FINRA, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Wall Street | Tagged , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment