When firms enter into enforcement actions with the U.S. Securities and Exchange Commission or other governmental or regulatory entities, the resolution of such matters can trigger certain disqualifications under the federal securities laws. For example, a firm may be disqualified from relying on the safe harbor for forward-looking statements, participating in Rule 506 offerings, or using the benefits available to a well-known seasoned issuer. In order to alleviate the disqualification, firms can require waivers of such disqualifications from the SEC.
Changes Bring Structure To SEC Settlement Waiver Process
August 21, 2019