On December 29, 2022, President Joe Biden signed into law HR 2617, the Consolidated Appropriations Act of 2023, which included an amendment to add new Section 15(b)(13) to the Securities Exchange Act of 1934 (Exchange Act). The new section will permit certain merger and acquisition brokers (M&A Brokers) to effect securities transactions in connection with their eligible M&A business without needing to register as a broker-dealer with the Securities and Exchange Commission (SEC).
The amendment becomes effective March 29, 2023.
Sidley Austin LLP provides this information as a service to clients and other friends for educational purposes only. It should not be construed or relied on as legal advice or to create a lawyer-client relationship. Readers should not act upon this information without seeking advice from professional advisers.
Attorney Advertising—Sidley Austin LLP, One South Dearborn, Chicago, IL 60603. +1 312 853 7000. Sidley and Sidley Austin refer to Sidley Austin LLP and affiliated partnerships, as explained at www.sidley.com/disclaimer.
© Sidley Austin LLP