Urge Your US Representative and Your US Senators to Co-Sponsort /Vote FOR HR 609
North American Securities Administrators Association (NASAA) Strongly Supports Passage of HR 609
HR 609, The Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act of 2019, will codify regulatory relief envisioned in the SEC M&A Broker No Action Letter.
The predecessor bill, HR 477 (115th), passed the US House UNANIMOUSLY (426-0).
15 states have either adopted NASAA’s model rule, or issued interim no-action relief expressly referencing this pending federal legislation.
The time has come to harmonize and right-size federal and state regulation of business brokers and M&A advisors who facilitate purchase /sale transactions of small, privately held companies, and meet certain requirements.