The Startup Company Oracle

Tuesday, February 4, 2014

SEC issues significant No-Action Letter for M&A advisers and business brokers

On January 31, 2014, the SEC released a sweeping No-Action Letter regarding mergers and acquisitions advisers and business brokers.  The actual text of the SEC No-Action Letter can be found at:

This SEC No-Action Letter represents the latest in a series of major milestones to clarify and simplify the unduly burdensome regulations that impact certain professionals who assist
buyers and sellers of privately held businesses.

In a nutshell, business brokers and M&A advisers who operate within the bright guidelines of the M&A Brokers No Action Letter will be exempt from registering with the SEC as a broker-dealer, regardless of the size of the transaction.


Wednesday, July 10, 2013

SEC proposes rule to allow general solicitation under JOBS Act: Help for Startups & Crowdfunding

Earlier today, the SEC issued a release proposing new rules that, among other things, generally would allow small businesses to use general solicitation to find investors. See Release No. 33-9416; Release No. 34-69960; Release No. IC-30595; File No. S7-06-13 at

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