Finders and Unregistered Broker-Dealers: Understanding the Risks and Recent Developments
Avoiding the Pitfalls of Broker-Dealer Registration Violations, Lessons From Recent SEC Enforcement Actions and FINRA Guidance
Recording of a 90-minute premium CLE webinar with Q&A
This CLE webinar will analyze the legal pitfalls for securities issuers who utilize unregistered "finders" to solicit investors, the SEC's restrictive position on permissible activities of finders, activities that require broker-dealer registration, and SEC regulatory actions regarding unregistered broker-dealers. The panel will also discuss the SEC's focus on broker-dealer issues in the private fund market, the ICO market, as well as the online crowdfunding portal space, and recent enforcement actions against fund managers.
- Securities laws applicable to activities of unregistered broker-dealers
- SEC guidance for determining when registration is required
- Broker-dealer issues arising in the operation of online crowdfunding portals as well as websites involved in the offerings of digital assets
- JOBS Act exemption from broker-dealer registration in Rule 506 offerings
- SEC and FINRA regulatory guidance and enforcement actions
- SEC OCIE examination of broker-dealer issues in activities of private investment funds
The panel will review these and other key issues:
- What activities require broker-dealer registration with the SEC and FINRA?
- What penalties and actions do issuers face in using unregistered broker-dealers in their capital raising efforts?
- How do the SEC and FINRA's guidance on finder activities in the M&A arena inform the permissible activities of finders in the securities and fund arenas?
Faegre Baker Daniels
Mr. Kuhn meets the comprehensive corporate legal needs of public and private companies. He counsels clients on capital... | Read More
Mr. Kuhn meets the comprehensive corporate legal needs of public and private companies. He counsels clients on capital markets transactions, mergers and acquisitions, corporate governance, and securities regulations. Mr. Kuhn brings insight from experience in both private practice and in-house roles to provide clients with practical advice and pragmatic solutions.Close
Mitchell Silberberg & Knupp
Ms. Shulga is a corporate and securities attorney with experience in startup law, securities offerings, cross-border... | Read More
Ms. Shulga is a corporate and securities attorney with experience in startup law, securities offerings, cross-border transactions, corporate governance, private and public company representation, business entity formation, licensing, contracts and employment-related agreements. She is experienced with advising small to mid-sized companies on formation, contract review and negotiation, private placement of securities, intellectual property matters and internal governance issues.Close