Dec 14 2021
WASHINGTON – Sen. John Kennedy (R-La.) today introduced the Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act to help small business owners access the services of small business merger and acquisition (M&A) brokers. M&A brokers assist small business owners who want to sell their businesses or merge with other firms so that their companies can continue expanding and supporting job growth.
“Whether they want to buy new ventures, sell their businesses or retire, small business owners depend on M&A brokers to help them navigate these changes. We need to ensure that Main Street entrepreneurs have consistent access to financial services so that America’s small businesses—and the jobs that depend on them—can continue to thrive,” said Kennedy.
The bill would allow small business M&A brokers to organize sales and purchases of ownership and control of private companies without registering as “broker-dealers” with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Removing the requirement to register with the SEC and FINRA would remove a bureaucratic roadblock for M&A brokers. This would make their services more affordable and accessible to small business owners who need help buying or selling companies.
Text of the Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act is available here.