House Financial Services Committee Chairwoman Maxine Waters (D-CA) released a discussion draft of legislation that would amend the SEC’s approach to considering and granting waivers to automatic bad actor disqualifications.  If adopted, the “Bad Actor Disqualification Act of 2019” (the “Draft Bill”) would, among other things, introduce a 180-day temporary waiver period for an entity that demonstrates that disqualification would cause “immediate irreparable injury,” require a notice and comment period and public hearing for all
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