RegAlert2024-08-14
Added · Updated
SEC Order Granting Waivers of Disqualification Provisions for Firms in Off-Channel Communications Initiative
The Securities and Exchange Commission grants waivers from the disqualification provisions of Rules 262(a)(4)(ii), 506(d)(1)(iv)(B), 602(c)(3) of the Securities Act, and Rule 503(a)(4)(ii) of Regulation Crowdfunding to 25 registered broker-dealers, investment advisers, and dual-registered entities. These waivers apply to firms that participated in the Off-Channel Communications Initiative and agreed to standardized settlement terms for non-scienter based recordkeeping violations. The Commission determined that good cause exists to not deny exemptions from registration under Regulations A, D, E, and Crowdfunding, provided the firms comply with the terms of their respective Recordkeeping Orders. The Commission reserves the right to revoke or further condition these waivers if the firms fail to comply with the order terms.
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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 11298 / August 14, 2024
In the Matter of
Off-Channel
Communications at
Registered Entities
Respondents.
ORDER UNDER RULES 262(b)(2),
506(d)(2)(ii), AND 602(e) OF THE
SECURITIES ACT OF 1933 AND RULE
503(b)(2) OF REGULATION
CROWDFUNDING GRANTING
WAIVERS OF THE DISQUALIFICATION
PROVISIONS OF RULES 262(a)(4)(ii),
506(d)(1)(iv)(B), AND 602(c)(3) OF THE
SECURITIES ACT OF 1933 AND RULE
503(a)(4)(ii) OF REGULATION
CROWDFUNDING
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Source: Securities and Exchange Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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