Business brokers and intermediaries who are active in the lower end of the M&A middle market have been lobbying Congress for 10 years to enact a limited exemption from broker.
As noted in our prior blog post, on 29 December 2022, President Biden signed into law the Consolidated Appropriations Act of 2023 (H.R. 2617). Among the routine federal funding.
Merger and Acquisition brokers must rely on a no action letter published by the SEC in order to engage in the business of effecting M and A securities transactions of privately held companies without registering as a broker with the SEC. Congress passed an exemption.
On December 29, 2022, President Biden signed H.R.2617, the Consolidated Appropriations Act of 2023 (the “Omnibus Bill”), that included a rider in Title V establishing a statutory.
An end-of-year omnibus package included a few small business legislative victories related to retail theft, employee benefits plans, and mergers and acquisitions.