At a recent meeting of the Oregon State Bar Securities Regulation Section, Tonkon Torp lawyers Tom Palmer and Drea Schmidt presented the latest information on the SEC’s new rules permitting general solicitation in connection with private placements, and new “bad actor” disqualifications applicable to Rule 506 offerings.
The new rules became effective last fall. Palmer and Schmidt discussed potential pitfalls for issuers relying on the new general solicitation exemption and the implications of the “bad actor” disqualification rules for issuers and securities professionals.
Palmer and Schmidt are members of Tonkon Torp’s Corporate Finance and Entrepreneurial Services practice groups. Palmer, who chairs the Corporate Finance practice group, specializes in securities and general corporate matters including public offerings, private placements, corporate governance, and mergers and acquisitions. Schmidt’s practice emphasizes securities, corporate governance and general corporate matters. She has experience in equity financing, advising on state and federal securities laws and SEC reporting and disclosure matters.
