SEC Proposal to Exempt Certain "Finders" from Broker-Dealer Registration May Allow Significant Capital Raising Activities by Non-Registered Persons
By EsqSocial Corporation 20/10/20
The Securities and Exchange Commission issued a proposed order that, if adopted, would provide an exemption to certain "finders," persons who connect potential buyers and sellers of securities for a fee, from broker-dealer registration requirements. This advisory outlines the effect and conditions of this proposed order on two classes of "finders," its impact on the "issuer's exemption" from broker-dealer registration and how it is effected by individual state registration requirements....
By: Katten Muchin Rosenman LLP