SEC Grants Advisory Firm Waiver of "Bad Actor" Disqualification under Regulation D

The SEC Division of Corporation Finance waived the disqualification of an investment management firm under the "bad actor" provisions of Rule 506(d) of Regulation D of the Securities Act. The waiver was required due to the settlement of a previous SEC enforcement action regarding the improper use of round lot pricing for odd lot assets by the firm. The waiver is contingent on the continued compliance with the terms of the SEC Order.