Barry L. Fischer
On May 27, 2011, the Securities and Exchange Commission, as required under the Dodd-Frank Wall Street Reform and Consumer Protection Act, released a proposed rule which would disqualify an entity from using the Rule 506 private offering safe harbor if the entity or a “covered person” associated with the entity is or had been involved in a “disqualifying event,” specified violations of securities laws or the regulations of securities administrators or certain related entities.