bad-boy provision
bad-boy provision 〈美〉违规者条款；「坏孩子」条款 「蓝天法」〔blue-sky law〕中的条款，规定对于某些人——主要指证券发行人、公司董事或其他高级职员、证券商等——因其过去的行为而无权从证券登记中获得任何豁免。
BAD-BOY PROVISION
bad boy provision
bad-boy provision. Securities. A statutory or regulatory clause in a blue-sky law stating that certain persons, because of their past conduct, are not entitled to any type of exemption from registering their securities. • Such clauses typically prohibit issuers, officers, directors, control persons, or broker-dealers from being involved in a limited offering if they have