On March 12, 2025, the staff of the Division of Corporation Finance at the Securities and Exchange Commission (SEC) issued a no-action letter (NAL) recognizing the reasonableness of one method by which issuers relying on Rule...more
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...more
Regulatory Developments -
SEC Grants Exemption from Registration as a Clearing Agency to Two Matching Service Providers -
On Nov. 24 the SEC approved applications by Bloomberg STP LLC and SS&C Technologies, Inc....more
12/4/2015
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Comment Period ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
MSRB ,
Municipal Advisers ,
No-Action Letters ,
NYDFS ,
Registration Requirement ,
Securities and Exchange Commission (SEC) ,
Waiting Periods
Regulatory Developments -
CFPB Outlines Guiding Principles for Faster Payment Networks:
On July 9, the CFPB released an outline of its guiding Consumer Protection Principles (Principles) for protecting consumers as...more
7/16/2015
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CFTC ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Cross-Border Transactions ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement ,
Federal Register ,
Financial Industry Regulatory Authority (FINRA) ,
Fund of Funds ,
Investment Company Act of 1940 ,
New Regulations ,
No-Action Letters ,
Payment Systems ,
Proposed Regulation ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Tibble v Edison Int
On Jan. 31, 2014, the SEC issued a no-action letter that permits private company M&A brokers to avoid registration with the SEC as broker-dealers under certain circumstances. However, business brokers should understand that...more