News & Analysis as of

Disclosure Requirements Bad Actors

Kohn, Kohn & Colapinto LLP

Gensler discusses markets “ripe with misconduct” and new SEC rules to address Changing Times

On September 12, the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. His testimony emphasized that market growth combined...more

McCarter & English, LLP

INFORM Consumers Act: Let the Sun Shine on the Online Marketplace

Are you facing the frustration (and cost) of playing whack-a-mole with counterfeit and infringing products on Amazon and other online marketplaces? If so, the newly enacted INFORM Consumers Act could be a major new tool in...more

Alston & Bird

SEC Harmonizes and Improves “Patchwork” Exempt Offering Framework

Alston & Bird on

Our Securities Group breaks down new final rules that the Securities and Exchange Commission hopes will maintain investor protections while eliminating regulatory uncertainty....more

Dorsey & Whitney LLP

New Disclosure Requirements to be Phased-In to CMS Enrollment and Revalidation Process

Dorsey & Whitney LLP on

On September 5, 2019, the Centers for Medicare & Medicaid Services (“CMS”) issued a final rule (“Final Rule”) effective November 4, 2019, which increases disclosure requirements for the provider and supplier enrollment and...more

Steptoe & Johnson PLLC

CMS’ Expanded Revocation Authority Threatens Health Care Providers’ Medicare Enrollment

Steptoe & Johnson PLLC on

On September 5, 2019, the Centers for Medicare & Medicaid Services (CMS) announced a final rule expanding CMS’ authority to deny or revoke enrollment in the Medicare program as a result of “bad actor” affiliations. Providers...more

ArentFox Schiff

Guilt by Affiliation: New CMS Regulations Require Provider Disclosure of Past Association with “Bad Actors”

ArentFox Schiff on

On September 10, 2019, the Centers for Medicare and Medicaid Services (CMS) issued a final rule with comment period, titled Program Integrity Enhancements to the Provider Enrollment Process (the “Final Rule”), which enhances...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - September 2019

In this issue, we summarize regulatory, litigation and industry developments from May to September 2019 impacting the investment management sector, including SEC action on standards of conduct for broker-dealers and...more

Bass, Berry & Sims PLC

Providers and Suppliers: Do You Have Skeletons in Your Enrollment Closet?

Bass, Berry & Sims PLC on

On September 10, 2019, the Centers for Medicare & Medicaid Services (CMS) published a final rule significantly expanding its authority to deny or revoke participation in Medicare, Medicaid or the Children’s Health Insurance...more

Mintz - Health Care Viewpoints

Key Takeaways from CMS’s Final Rule Requiring the Disclosure of Affiliates during Provider Enrollment

The Centers for Medicare & Medicare Services (CMS) recently published a final rule with comment period (the “Final Rule”) that is designed to increase CMS’s ability to identify and prevent bad actors from participating in...more

Akin Gump Strauss Hauer & Feld LLP

Investment Management Special Report - 2017-18 Compliance Developments & Calendar for Private Fund Advisers

Introduction - Despite an anticipated de-regulatory push, there are significant new regulatory concerns for investment advisers to address in connection with their annual review of their compliance manuals. ...more

Morrison & Foerster LLP - JOBS Act

Congresswoman Waters Introduces Bad Actor Disqualification Act

On July 27, 2017, Ranking Member of the House Committee on Financial Services, Congresswoman Maxine Waters, introduced the Bad Actor Disqualification Act of 2017. This draft legislation directs the SEC to implement more...more

Morrison & Foerster LLP - JOBS Act

New Hampshire Uniform Securities Act

New Hampshire has adopted a new securities law, known as the New Hampshire Uniform Securities Act, which will become effective on January 1, 2016. It is modeled on the Uniform Securities Act (2002) (“USA 2002”), which has...more

Morrison & Foerster LLP - JOBS Act

Reg A+ Challenged Again

Another letter to the SEC from the Hill challenges the Regulation A+ proposal. This time, the authors question the authority of the SEC in defining “qualified purchaser” as an offeree or purchaser in a Tier 2 Reg A+...more

Akin Gump Strauss Hauer & Feld LLP

New C&DIs Regarding ‘Bad Actor’ Beneficial Ownership (Rule 506)

The staff of the SEC's Division of Corporation Finance recently published additional "Compliance and Disclosure Interpretations", starting at 260.28, relating to the bad actor disqualification in Rule 506 under the Securities...more

K&L Gates LLP

Bad Actors

K&L Gates LLP on

On July 10, 2013, the Securities and Exchange Commission (“SEC”) adopted amendments to Rule 506 of Regulation D (“Reg D”) that, among other things, prohibit issuers of securities from relying on Reg D if “bad actors” are...more

Orrick - Finance 20/20

New Compliance and Disclosure Interpretations

Orrick - Finance 20/20 on

On December 4, the Division of Corporation Finance of the SEC issued new Compliance and Disclosure Interpretations regarding, among other things, Rules 506(d) and (e) of Regulation D under the Securities Act of 1933. These...more

Goodwin

SEC Staff Issues New Guidance on Rule 506 Bad Actor Disqualification

Goodwin on

The staff of the SEC’s Division of Corporation Finance posted additional Compliance and Disclosure Interpretations (see Questions 260.14 through 260.27) to the SEC website that address the “bad actor” disqualification...more

Akin Gump Strauss Hauer & Feld LLP

SEC Staff Provides Clarification of Scope of Bad Actor Disqualification

The staff of the Securities and Exchange Commission’s Division of Corporation Finance published “Compliance and Disclosure Interpretations” (CDIs) on Wednesday, December 4, 2013, that provide important clarification regarding...more

Stinson - Corporate & Securities Law Blog

Rule 506 FAQs: Some Answers, Some New Questions

On December 4, 2013, the SEC released a new batch of FAQs regarding new Rules 506(d) and 506(e). Before diving in to the clarifications provided and the new uncertainties raised by the SEC in the new FAQs, you might want to...more

Stinson - Corporate & Securities Law Blog

D&O Questionnaire Update Forms For 2014

The SEC has adopted rules prohibiting “bad actors” from using Rule 506 after September 23, 2013 (the effective date of the rules), or if prohibited conduct occurred prior to the effective date of the rules, the prohibition...more

Morrison & Foerster LLP - JOBS Act

Comparison of Rule 506(d) “Bad Actor” Provisions to FINRA Forms U4 and U5

Rule 506(d) uses significantly different language from FINRA Forms U4 and U5. Below is a correlation of Rule 506(d) disqualifying events to comparable FINRA Forms U4 and U5 disclosure obligations. FINRA Form U5 disclosure...more

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