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Privately Held Corporations Broker-Dealer No-Action Letters

DarrowEverett LLP

New M&A Broker Exemption: To Be Or Not To Be, That Is The Question

DarrowEverett LLP on

On March 29, 2023, a new exemption from SEC registration for brokers providing services in mergers and acquisitions (“M&A”) transactions officially went into effect. The exemption, outlined in Section 501 of the Consolidated...more

Farrell Fritz, P.C.

Do Private Company M&A Intermediaries Need to Register with the SEC as Broker-Dealers?

Farrell Fritz, P.C. on

Since 2014, many private company mergers and acquisitions intermediaries have chosen not to register as broker-dealers. That’s because a 2014 SEC no-action letter took the position that intermediaries that limited their...more

Kilpatrick

SEC Provides No-Action Relief for M&A Brokers

Kilpatrick on

On January 31, the staff of the Securities and Exchange Commission (“SEC”) issued a no-action letter (“No-Action Letter”) permitting an “M&A Broker”, under certain circumstances, to facilitate mergers, acquisitions, business...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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