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Exemptions › M&A Brokers

Latham & Watkins LLP

New Federal Exemption Changes the Registration Landscape for M&A Brokers

Latham & Watkins LLP on

The narrower M&A broker exemption supersedes the 2014 M&A broker no-action letter while leaving state-level restrictions and foreign M&A broker relief unaffected. On March 29, 2023, the Securities Exchange Act of 1934...more

Amundsen Davis LLC

Patience is a Virtue: Landmark Federal M&A Broker Exemption Effective March 29, 2023

Amundsen Davis LLC on

Business brokers and intermediaries who are active in the lower end of the M&A middle market have been lobbying Congress for 10 years to enact a limited exemption from broker registration under the Securities Exchange Act of...more

Stinson - Corporate & Securities Law Blog

U.S. House of Representatives Acts To Codify Registration Exemption for M&A Brokers

Stinson - Corporate & Securities Law Blog on

On December 7, 2017, the U.S. House of Representatives passed the “Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act of 2017 (H.R. 477).” The bipartisan bill passed the House by a vote of 426-0....more

Eversheds Sutherland (US) LLP

NASAA M&A Broker Model Rule

Eversheds Sutherland (US) LLP on

On January 15, 2015, the Broker-Dealer Section of the North American Securities Administrators Association (NASAA) requested comments on a proposed uniform state model rule (the Model Rule) regarding the exemption of certain...more

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