Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Monday, April 19, 2010

NASAA Seeks Reforms in Reg D Rule 506 Offerings

NASAA Statement on Reforms Needed to Protect Investors in Regulation D Rule 506 Offerings:

State securities regulators urge the Senate to protect investors by amending the Banking Committee's recently approved reform package to stop securities law violators from conducting private securities offerings under the SEC's Regulation D Rule 506 provisions.

The bill's current language offers an unworkable regulatory review process ...,

Rather, we believe the legislation should instead reinstitute the authority of states to use their so-called ‘bad boy’ provisions to disqualify recidivist securities violators who are now legally allowed to conduct private securities offerings under Regulation D Rule 506.

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