New Federal M&A Broker Exemption is a Big Deal!

Goodwin Procter – On December 29, 2022, President Biden signed H.R.2617, codifying a federal exemption from SEC registration for small business M&A brokers as new Exchange Act Section 15(b)(13).  Limitations exist, as does the requirement to comply with state laws and regulations, but the legislation is a welcome development for those seeking to facilitate smaller mergers, acquisitions, and other strategic corporate transactions (as well as buyers and sellers using those unregistered intermediaries’ services). Reliance on the new exemption is available beginning on March 29, 2023.

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