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Brokers Finders

Venable LLP

Finders and Unregistered Broker-Dealers

Venable LLP on

The issue of when a person may be considered a “broker” or “dealer” and subject to registration as such under the federal securities laws, as distinguished from so-called finders (and therefore not subject to the panoply of...more

Perkins Coie

SEC Staff Withdraws 2014 Letter in Response to Federal M&A Broker Exemption

Perkins Coie on

A new development has emerged in the series of changes to the regulation of finders (i.e., persons that receive compensation for making an introduction leading to a securities transaction) and mergers and acquisition brokers...more

Eversheds Sutherland (US) LLP

SEC proposes exempting certain finders from broker registration

On October 7, 2020, the US Securities and Exchange Commission (SEC) proposed granting exemptive relief from the broker registration requirement in Section 15 of the Securities Exchange Act of 1934, as amended (the Exchange...more

WilmerHale

SEC Proposes Exemptive Relief From Broker Registration for Finders for Small Companies

WilmerHale on

On October 7, 2020, the Securities and Exchange Commission (SEC) proposed to address long-standing questions regarding the applicability of the broker registration requirements to finders for small and emerging businesses....more

Goodwin

SEC Adopts Rule Providing New Regulatory Framework For Fund-Of-Funds

Goodwin on

In the News. The Securities and Exchange Commission (SEC) announced that it adopted Rule 12d1-4 under the Investment Company Act of 1940 (the 1940 Act), providing a new regulatory framework for fund-of-funds and final...more

Baker Donelson

SEC Proposes Broker Registration Exemption for Certain "Finders"

Baker Donelson on

On October 7, 2020, the Securities and Exchange Commission (Commission) proposed a conditional exemption from the broker registration provisions of the Securities Exchange Act of 1934 (Exchange Act) for natural persons that...more

Holland & Hart LLP

SEC Proposes Limited Exemption for Individual "Finders"

Holland & Hart LLP on

On October 8, 2020, the Securities and Exchange Commission (the "SEC") voted to propose a new limited conditional exemption from broker registration requirements for "finders." The SEC's press release is accessible here....more

Stinson - Corporate & Securities Law Blog

SEC Proposes Expanded Exemption for “Finders”

At an open meeting of the Securities and Exchange Commission on October 7th, the Commission approved issuance of a proposed conditional exemptive order that would allow “finders” to engage with accredited investors in...more

Fox Rothschild LLP

NY State Attorney General Targets Finders And Business Brokers In Pandemic Rule-Making

Fox Rothschild LLP on

“Finders” or “business brokers” may be the unsung heroes of early stage and emerging growth companies, or, as the New York State Attorney General (“NYSAG”) and, seemingly, the United States Securities and Exchange Commission...more

Allen Matkins

Bill Introduced To Require Registration Of Finders Under The California Finance Lenders Law

Allen Matkins on

The California Finance Lenders Law, Financial Code § 22000 et seq., currently requires licensing of finance lenders and brokers. A finance lender is defined as any person who is engaged in the business of making consumer...more

Baker Donelson

SEC No-Action Letter Exempts M&A Brokers from Federal Registration Requirements

Baker Donelson on

On February 3, 2013, the Security and Exchange Commission's (SEC) Division of Trading and Markets publically issued a significant no-action letter advising that M&A brokers do not need to register as broker-dealers to...more

Perkins Coie

SEC Relief For "M&A Brokers:" Not Required To Register As Broker-Dealers

Perkins Coie on

The Chief Counsel of the SEC’s Division of Trading and Markets recently issued an important no-enforcement letter regarding the status of a person engaged in effecting transactions in connection with the transfer of ownership...more

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