Our client alert discusses a new federal exemption from SEC registration for small business M&A brokers as new Exchange Act Section 15(b)(13).
Our client alert discusses a new federal exemption from SEC registration for small business M&A brokers as new Exchange Act Section 15(b)(13).
On June 16, the United States Court of Appeals for the D.C. Circuit dealt a blow to the SEC by overturning the agency’s “Transaction Fee Pilot.” The court ruled that the SEC’s adoption of the Pilot “was an unprecedented action that clearly exceeded the SEC’s authority under the Exchange Act.” Analyzing transaction…