News & Analysis as of

Registration Requirement Securities Regulation Broker-Dealer

Carlton Fields

SEC Deep-Sixes Its Expanded “Dealer” Definition

Carlton Fields on

Last year, the Securities and Exchange Commission amended its definition of “dealer” to require broker-dealer registration by some persons or entities previously considered securities “traders” not subject to such...more

ArentFox Schiff

SEC Cracks Down on Unregistered Broker-Dealers

ArentFox Schiff on

StraightPath Venture Partners, LLC and PMAC Consulting have recently reached settlements with the US Securities and Exchange Commission (SEC) following SEC enforcement actions against them....more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - July 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - April 2024

Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the previous month that are of interest to...more

Akin Gump Strauss Hauer & Feld LLP

SEC Adopts Narrower Version of Dealer Registration Rules

Earlier today, the Securities and Exchange Commission in a 3‑2 vote adopted new Rules 3a5‑4 and 3a44‑2 (together, the Dealer Rules) under the Securities Exchange Act of 1934, as amended (the Exchange Act), that will define...more

Carlton Fields

SEC Wants More Securities Traders Under Its Dealer Big Top: Would Require Exchange Act Registration by More Regular Traders

Carlton Fields on

Recent SEC actions relating to the definition of “dealer” under the Securities Exchange Act of 1934 may enable the SEC to start cracking the whip over more persons who actively trade securities for their own account “as part...more

Pullman & Comley, LLC

Congress Enacts Statute Exempting “M&A Brokers” From Registration as Brokers or Dealers

Pullman & Comley, LLC on

Effective March 29, 2023, certain small business brokers will be exempted from registering with the Securities and Exchange Commission (the SEC). The new law was signed into effect on December 29, 2022, as part of the...more

Nelson Mullins Riley & Scarborough LLP

New Federal “M&A Broker” Exemption From SEC Registration in Certain Securities Transactions

President Biden signed, on December 29, 2022, the Consolidated Appropriations Act, 2023, H.R. 2617 (the “2023 Act”). The 2023 Act amends the Securities Exchange Act of 1934 (the "Exchange Act") to exempt certain "M&A...more

Stinson LLP

New Exemption for M&A Brokers from Federal Broker-Dealer Registration

Stinson LLP on

Signed into law by President Biden on December 29, 2022, new provisions in the Consolidated Appropriations Act, 2023 (H.R. 2617) (Exemption) exempt certain “M&A brokers” from having to register as broker-dealers with the U.S...more

Oberheiden P.C.

Tokenization Lawyer – 5 Reasons Why You Might Need One

Oberheiden P.C. on

What is Tokenization? Tokenization is the process of converting an asset into a token on the blockchain. It operates by dividing—or fractionalizing—the ownership of an asset (whether the asset is a piece of real estate or...more

Royer Cooper Cohen Braunfeld LLC

SEC Proposes Broker-Dealer Exemption for “Finders,” Though Much Remains Uncertain

A recently proposed Securities and Exchange Commission (“SEC”) exemption from broker-dealer registration may make it easier for small and medium-sized businesses to raise capital from accredited investors, but questions...more

Foley Hoag LLP - Public Companies & the Law

“Finders” Operating in Massachusetts Should Beware the SEC’s Proposed Relief

• The SEC recently proposed to exempt certain finders from federal requirements to register as a broker - • Massachusetts regulators are opposed to the relief and retain state remedies for unregistered broker activity - ...more

Polsinelli

Revenge of the Rat Pack; SEC Proposes Finders Exemption

Polsinelli on

The U.S. Securities and Exchange Commission (the “SEC”) recently proposed a new, conditional exemption from registration as a broker for individuals who are “finders” that connect accredited investors with issuers looking to...more

Morgan Lewis

SEC Proposes Exemptive Relief for Finders

Morgan Lewis on

While an SEC proposal to exempt “finders” from broker-dealer registration requirements is promising, potential hazards remain and interpretive questions may persist. ...more

Nutter McClennen & Fish LLP

SEC Proposal for Limited Exemption from Broker-Dealer Registration

On October 7, 2020, the Securities and Exchange Commission (the “SEC”) proposed a limited, conditional exemption from the broker registration requirements of Section 15(a) of the Securities Exchange Act of 1934 (the “Exchange...more

Jones Day

Temporary Exemption From Broker Registration for Municipal Advisors

Jones Day on

The U.S. Securities and Exchange Commission ("SEC") has granted a temporary exemption from broker registration for certain activities by municipal advisors. On June 16, 2020, the SEC issued a temporary conditional...more

Stinson - Corporate & Securities Law Blog

SEC Brings Actions Against Fifteen Unregistered Brokers for Their Participation in an Illegal Offering of Microcap Securities

The SEC charged fifteen individuals with acting as unregistered brokers or aiding-and-abetting such activity in connection with Intertech Solutions, Inc.’s fraudulent and unregistered securities offerings....more

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