On July 10th, the SEC also adopted amendments, required by the Dodd-Frank Act, to Securities Act Rule 506. The amendments, which act as a corollary to new Rule 506(c), bar felons and other bad actors from participating in exempt offerings. The adopted rule is prospective only, barring only those disqualified after the rule's effective date from participating in exempt offerings. The amendments are effective 60 days after publication in the Federal Register, which is expected during the week of July 15. SEC Release No. 33-9414.