{"abstract":"We are adopting amendments to our rules to implement Section 926 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 926 requires us to adopt rules that disqualify securities offerings involving certain \"felons and other `bad actors\"' from reliance on Rule 506 of Regulation D. The rules must be \"substantially similar\" to Rule 262 under the Securities Act, which contains the disqualification provisions of Regulation A under the Securities Act, and must also cover matters enumerated in Section 926 of the Dodd-Frank Act (including certain state regulatory orders and bars).","action":"Final rule.","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2013/07/24/2013-16983.html","cfr_references":[{"chapter":null,"citation_url":null,"part":200,"title":17},{"chapter":null,"citation_url":null,"part":230,"title":17},{"chapter":null,"citation_url":null,"part":239,"title":17}],"citation":"78 FR 44730","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective Date: September 23, 2013.","disposition_notes":null,"docket_ids":["Release No. 33-9414","File No. S7-21-11"],"dockets":[],"document_number":"2013-16983","effective_on":"2013-09-23","end_page":44771,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2013/07/24/2013-16983.xml","html_url":"https://www.federalregister.gov/documents/2013/07/24/2013-16983/disqualification-of-felons-and-other-bad-actors-from-rule-506-offerings","images":{"ER24JY13.013":{"large":"https://img.federalregister.gov/ER24JY13.013/ER24JY13.013_large.png","medium":"https://img.federalregister.gov/ER24JY13.013/ER24JY13.013_medium.png","original_size":"https://img.federalregister.gov/ER24JY13.013/ER24JY13.013_original_size.png"},"ER24JY13.005":{"large":"https://img.federalregister.gov/ER24JY13.005/ER24JY13.005_large.png","medium":"https://img.federalregister.gov/ER24JY13.005/ER24JY13.005_medium.png","original_size":"https://img.federalregister.gov/ER24JY13.005/ER24JY13.005_original_size.png"},"ER24JY13.010":{"large":"https://img.federalregister.gov/ER24JY13.010/ER24JY13.010_large.png","medium":"https://img.federalregister.gov/ER24JY13.010/ER24JY13.010_medium.png","original_size":"https://img.federalregister.gov/ER24JY13.010/ER24JY13.010_original_size.png"},"ER24JY13.011":{"large":"https://img.federalregister.gov/ER24JY13.011/ER24JY13.011_large.png","medium":"https://img.federalregister.gov/ER24JY13.011/ER24JY13.011_medium.png","original_size":"https://img.federalregister.gov/ER24JY13.011/ER24JY13.011_original_size.png"},"ER24JY13.012":{"large":"https://img.federalregister.gov/ER24JY13.012/ER24JY13.012_large.png","medium":"https://img.federalregister.gov/ER24JY13.012/ER24JY13.012_medium.png","original_size":"https://img.federalregister.gov/ER24JY13.012/ER24JY13.012_original_size.png"},"ER24JY13.006":{"large":"https://img.federalregister.gov/ER24JY13.006/ER24JY13.006_large.png","medium":"https://img.federalregister.gov/ER24JY13.006/ER24JY13.006_medium.png","original_size":"https://img.federalregister.gov/ER24JY13.006/ER24JY13.006_original_size.png"},"ER24JY13.007":{"large":"https://img.federalregister.gov/ER24JY13.007/ER24JY13.007_large.png","medium":"https://img.federalregister.gov/ER24JY13.007/ER24JY13.007_medium.png","original_size":"https://img.federalregister.gov/ER24JY13.007/ER24JY13.007_original_size.png"},"ER24JY13.008":{"large":"https://img.federalregister.gov/ER24JY13.008/ER24JY13.008_large.png","medium":"https://img.federalregister.gov/ER24JY13.008/ER24JY13.008_medium.png","original_size":"https://img.federalregister.gov/ER24JY13.008/ER24JY13.008_original_size.png"},"ER24JY13.009":{"large":"https://img.federalregister.gov/ER24JY13.009/ER24JY13.009_large.png","medium":"https://img.federalregister.gov/ER24JY13.009/ER24JY13.009_medium.png","original_size":"https://img.federalregister.gov/ER24JY13.009/ER24JY13.009_original_size.png"}},"images_metadata":{"ER24JY13.013":{"large":{"identifier":"ER24JY13.013","content_type":"image/png","size":26406,"width":823,"sha":"067400aa634042a786c19ad54e673a58","url":"https://img.federalregister.gov/ER24JY13.013/ER24JY13.013_large.png","height":611},"medium":{"identifier":"ER24JY13.013","content_type":"image/png","size":8617,"width":401,"sha":"9006d033eb4503c512270deae186be82","url":"https://img.federalregister.gov/ER24JY13.013/ER24JY13.013_medium.png","height":298},"original_size":{"identifier":"ER24JY13.013","content_type":"image/png","size":275275,"width":3027,"sha":"a2dfedef4eb83eedfd9fc857a3a6601a","url":"https://img.federalregister.gov/ER24JY13.013/ER24JY13.013_original_size.png","height":2249}},"ER24JY13.005":{"large":{"identifier":"ER24JY13.005","content_type":"image/png","size":21693,"width":822,"sha":"aa133b2ba04c891141e9ea87c35c64f3","url":"https://img.federalregister.gov/ER24JY13.005/ER24JY13.005_large.png","height":437},"medium":{"identifier":"ER24JY13.005","content_type":"image/png","size":10671,"width":480,"sha":"0838d1a7aa6f80a54b4dcf969796bd65","url":"https://img.federalregister.gov/ER24JY13.005/ER24JY13.005_medium.png","height":255},"original_size":{"identifier":"ER24JY13.005","content_type":"image/png","size":294618,"width":3627,"sha":"1bd2d8e47c5088da8c11a9238380da12","url":"https://img.federalregister.gov/ER24JY13.005/ER24JY13.005_original_size.png","height":1928}},"ER24JY13.010":{"large":{"identifier":"ER24JY13.010","content_type":"image/png","size":20475,"width":823,"sha":"4e0fa15b34e82dbb27ce35589f8d715e","url":"https://img.federalregister.gov/ER24JY13.010/ER24JY13.010_large.png","height":519},"medium":{"identifier":"ER24JY13.010","content_type":"image/png","size":10561,"width":507,"sha":"770bdcccd41abeb9b290a2a9f40304b3","url":"https://img.federalregister.gov/ER24JY13.010/ER24JY13.010_medium.png","height":320},"original_size":{"identifier":"ER24JY13.010","content_type":"image/png","size":153946,"width":3827,"sha":"d6e4d8827fadc202f566c1e00561e00c","url":"https://img.federalregister.gov/ER24JY13.010/ER24JY13.010_original_size.png","height":2415}},"ER24JY13.011":{"large":{"identifier":"ER24J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12:15:05 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2013-07-24/pdf/2013-16983.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2013-16983.pdf?1374584212","publication_date":"2013-07-24","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2013/07/24/2013-16983.txt","regulation_id_number_info":{"3235-AK97":{"issue":"201304","html_url":"https://www.federalregister.gov/regulations/3235-AK97/disqualification-of-felons-and-other-bad-actors-from-rule-506-offerings","title":"Disqualification of Felons and Other \"Bad Actors\" From Rule 506 Offerings","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201304&RIN=3235-AK97&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["3235-AK97"],"regulations_dot_gov_info":{"supporting_documents":[],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/3235-AK97/disqualification-of-felons-and-other-bad-actors-from-rule-506-offerings","title":"Disqualification of Felons and Other \"Bad Actors\" From Rule 506 Offerings"},"comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=SEC-2013-1336","supporting_documents_count":0,"docket_id":"SEC-2013-1336","regulation_id_number":"3235-AK97","title":"Disqualification of Felons and Other Bad Actors from Rule 506 Offerings","checked_regulationsdotgov_at":"2013-08-25T05:00:45Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":44730,"subtype":null,"title":"Disqualification of Felons and Other “Bad Actors” From Rule 506 Offerings","toc_doc":"Disqualification of Felons and Other Bad Actors from Rule 506 Offerings","toc_subject":null,"topics":["Administrative practice and procedure","Authority delegations (Government agencies)","Organization and functions (Government agencies)","Reporting and recordkeeping requirements","Securities"],"type":"Rule","volume":78}