SEC Proposes Exemption From Broker-Dealer Registration for Finders

The SEC has issued a proposed exemptive order, Notice of Proposed Exemptive Order Granting Conditional Exemption From the Broker Registration Requirements of Section 15(a) of the Securities Exchange Act of 1934 for Certain Activities of Finders. The proposal grants “conditional exemption from the broker registration requirements of Section 15(a) of the Exchange Act to permit natural persons to engage in certain limited capital raising activities involving accredited investors.”

For more information, see the press release and statements from SEC Chairman Jay Clayton and Commissioners Hester M. Peirce, Elad L. Roisman, Allison H. Lee, and Caroline A. Crenshaw on the SEC’s Web site.