05/08/2014 01:00 p.m. - 02:00 p.m. EDT
Banking + Financial Services, Broker-Dealer Compliance + Regulation, Financial Institutions + Financial Services, and Mergers + Acquisitions
Kelley A. Howes and Hillel T. Cohn
Hillel T. Cohn and Kelley A. Howes
On January 31, 2014, the SEC issued a ground-breaking no-action letter, taking the position that a financial intermediary that limits its business activity to advising privately held companies in M&A transactions need not register as a broker-dealer. This no-action letter departs from the SEC’s long-standing position that treated M&A brokers in the same manner as more traditional broker-dealers. It also opens the door for brokers who only represent private companies in M&A transactions to withdraw their broker-dealer registration with the SEC. Before doing so, however, they should consider both the limitations in the no-action letter and the implications under state law should they cease to be an SEC-registered broker-dealer. This webcast program will cover:
West will provide CLE credit.
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