{"id":1135,"date":"2021-06-14T12:42:31","date_gmt":"2021-06-14T12:42:31","guid":{"rendered":"http:\/\/localhost\/?p=1135"},"modified":"2021-06-14T12:42:31","modified_gmt":"2021-06-14T12:42:31","slug":"securities-regulators-focus-on-forgivable-recruitment-loansbonuses-social-media-influencers-and-rescission-offers","status":"publish","type":"post","link":"https:\/\/bdia.pli.edu\/index.php\/2021\/06\/14\/securities-regulators-focus-on-forgivable-recruitment-loansbonuses-social-media-influencers-and-rescission-offers\/","title":{"rendered":"Securities Regulators Focus on Forgivable Recruitment Loans\/Bonuses, Social Media Influencers, and Rescission Offers"},"content":{"rendered":"

In recent weeks, we have observed significant new developments in securities regulation related to two enforcement actions by the Commission\u00a0and an unexpected (and, to our knowledge, unprecedented) new rule adopted by a state securities regulator.\u00a0\u00a0First, the Commission has published enforcement actions against registered investment advisers (\u201cRIAs<\/em><\/strong>\u201d), involving: (a) failure to make conflicts-related disclosures about payment of forgivable recruitment loans\/bonuses; and (b) failure to comply with Rule 206(4)-3 (the \u201cSolicitation Rule<\/em><\/strong>\u201d) when using social media influencers acting as referral sources.\u00a0\u00a0Second, the Tennessee Securities Division has fundamentally changed the process for issuers and broker-dealers attempting to shield themselves from civil liability arising from unregistered, non-exempt securities offerings through rescission offers.<\/p>\n

Read more here<\/a>.<\/p>\n

Additional contributors:
\nThomas B. Cain<\/a>,\u00a0\u00a0tcain@kilpatricktownsend.com
\n<\/a>Alexandra M. Fenno<\/a>,\u00a0\u00a0<\/a>afenno@kilpatricktownsend.com
\n<\/a>Jeffrey T. Skinner<\/a>,\u00a0<\/a>jskinner@kilpatricktownsend.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In recent weeks, we have observed significant new developments in securities regulation related to two enforcement actions by the Commission\u00a0and an unexpected (and, to our knowledge, unprecedented) new rule adopted by a state securities regulator.\u00a0\u00a0First, the Commission has published enforcement actions against registered investment advisers (\u201cRIAs\u201d), involving: (a) failure to make conflicts-related disclosures about payment … Continue reading Securities Regulators Focus on Forgivable Recruitment Loans\/Bonuses, Social Media Influencers, and Rescission Offers<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":94,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,24,21,22],"tags":[],"class_list":["post-1135","post","type-post","status-publish","format-standard","hentry","category-compliance","category-enforcement","category-regulatory","category-standard-of-care"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t