A 1031 Exchange is a capital gains tax deferral option in which taxpayers can reinvest the proceeds from the sale of an investment property into another investment or property, delaying any capital gains taxes.

Rule 506(b) provides an exemption under Regulation D of the Securities Act. This exemption provides a way for companies to raise money and sell investment opportunities to both accredited investors and a limited number of non-accredited investors per opportunity. Under this rule, the company offering the investment can't advertise or publish investment details publicly.

Rule 506(c) permits issuers to solicit and generally advertise an offering to accredited investors. The issuer must take steps to verify purchasers' accredited investor status and satisfy other conditions in Regulation D.