Counsel Faith Colish served on the panel “Finding Capital: Broker-Dealer Registration after Paxton and Kramer” at the ABA Business Law Section Annual Meeting in Chicago on September 14. The panel discussed the role of finders in the capital raising process, and in particular discussed several recent court decisions which considered whether intermediaries that assisted in raising capital were required to register with the SEC. Ms. Colish contributed to the ABA Task Force’s 2005 Report on Private Placement Brokers while she was a member of the Task Force; then Co-Chaired that Task Force from 2005 until 2011, and has been Chair Emerita since 2011. Ms.. Colish was instrumental in obtaining an SEC M&A Broker No-Action Letter issued January 31 and amended on February 3, 2014 which permitted some M&A brokers to operate without SEC registration.
For further information, please refer to Carter Ledyard Client Advisory, “CL&M Lawyers Instrumental in Obtaining SEC No-Action Letter to Permit Some M&A Brokers to Operate Without SEC Registration” at https://www.clm.com/publication.cfm?ID=482