Source: https://www.law.cornell.edu/cfr/text/17/230.258
Timestamp: 2017-03-30 07:06:55
Document Index: 226214984

Matched Legal Cases: ['§ 230', '§ 230', '§ 230', '§ 230', '§ 230', '§ 230']

17 CFR 230.258 - Suspension of the exemption. | US Law | LII / Legal Information Institute
§ 230.258 Suspension of the exemption.
(a)Suspension. The Commission may at any time enter an order temporarily suspending a Regulation A exemption if it has reason to believe that:
(2) The offering statement, any sales or solicitation of interest material, or any report filed pursuant to Rule 257 ( § 230.257) contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading;
(5) Any person specified in Rule 262(a) ( § 230.262(a)) has been indicted for any crime or offense of the character specified in Rule 262(a)(1) ( § 230.262(a)(1)), or any proceeding has been initiated for the purpose of enjoining any such person from engaging in or continuing any conduct or practice of the character specified in Rule 262(a)(2) ( § 230.262(a)(2)), or any proceeding has been initiated for the purposes of Rule 262(a)(3)-(8) ( § 230.262(a)(3) through (8)); or
(b)Notice and hearing. Upon the entry of an order under paragraph (a) of this section, the Commission will promptly give notice to the issuer, any underwriter, and any selling securityholder:
(c)Suspension order. If no hearing is requested and none is ordered by the Commission, an order entered under paragraph (a) of this section shall become permanent on the 30th calendar day after its entry and shall remain in effect unless or until it is modified or vacated by the Commission. Where a hearing is requested or is ordered by the Commission, the Commission will, after notice of and opportunity for such hearing, either vacate the order or enter an order permanently suspending the exemption.
(d)Permanent suspension. The Commission may, at any time after notice of and opportunity for hearing, enter an order permanently suspending the exemption for any reason upon which it could have entered a temporary suspension order under paragraph (a) of this section. Any such order shall remain in effect until vacated by the Commission.
(e)Notice procedures. All notices required by this rule must be given by personal service, registered or certified mail to the addresses given by the issuer, any underwriter and any selling securityholder in the offering statement.
[ 80 FR 21895, Apr. 20, 2015]
17 CFR 230.259 — Withdrawal or Abandonment of Offering Statements.
17 CFR 201.500 — Expedited Consideration of Proceedings.
17 CFR 230.260 — Insignificant Deviations From a Term, Condition or Requirement of Regulation A.