campaign for clarity

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On March 31st, the following national and international professional associations jointly sent a a letter to to the leadership of the House Financial Services Committee, urging prompt passage of HR 477, The Small Business Mergers, Acquisitions, Sales & Brokerage Simplification Act of 2017.

  • Alliance of M&A Advisors (AM&AA)
  • Business Intermediaries Education Foundation (BIEF)
  • International Business Brokers Association (IBBA)
  • M&A Source (MAS)

 Click here to read the complete text of their letter.

 

HR 477 Co-Sponsors now include:

  • Representative Bill Huizenga (R MI-2),
  • Representative Brian Higgins (D NY-26),
  • Representative Bill Posey (R FL-8),
  • Representative David Joyce (R OH-14),
  • Representative Kevin Brady (R TX-8),
  • Representative Dennis Ross (R FL-15),
  • Representative Frank Lucas (R OK-3),
  • Representative David Young (R IA-3)

Your US Representative urgently needs to hear from YOU that this bill is important to you, and to buyers and sellers of privately held businesses in your state.

Passage of this small but important bill will codify the regulatory relief envisioned in the SEC M&A Broker No Action Letter, and will harmonize federal law with coming changes in state securities laws.

It is strongly supported by the North American Securities Administrators Association (NASAA) which formally adopted its Model State Rule on September 29, 2015.  NASAA’s Model State Rule, which closely parallels the language in HR 477, and is now in the process of being adopted state by state.

NO NEED TO LOOK UP YOUR REPRESENTATIVE’S NAME, ADDRESS, AND SALUTATION.  NO NEED TO COMPOSE YOUR OWN LETTER.  JUST CLICK HERE, AND ENTER YOUR ZIP CODE, NAME AND ADDRESS! 

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In closing, I would be remiss not to ask you to consider a meaningful financial contribution to the Campaign for Clarity. In the 10+ years since its inception, the Campaign has incurred legal and lobbying expenses of ~$900,000 and raised ~$500,000 from voluntary contributions from individuals and firms like yours who recognize this is a rice bowl issue for our entire profession, as well as for the owners of privately held businesses whom we assist.

The not-for-profit, Business Intermediaries Education Foundation (BIEF) has taken the lead role in raising funds for this and other issues that concern the entire profession. While cash, check and credit card contributions are greatly appreciated, you may be more comfortable contributing something now, and pledging to contribute more in the future, perhaps tied to your next big closing.

As ever, please don’t hesitate to call/contact meif you have any questions, or if we can ever be of any further assistance on this matter.

Mike Ertel, BSEE, MSIA, CBI, M&AMI, CM&AA
Co-Chair, Campaign for Clarity
Managing Director, Broker
Transworld M&A Advisors
400 Carillon Parkway, Suite 110
Saint Petersburg, FL  33716
888.864.6610 O
813.299.7862 C
mertel@transworldma.com  

Securities transactions conducted through StillPoint Capital LLC, Tampa, FL.  Member FINRA/SIPC 

Email your US Representative NOW!

Attachments:
HR477 Text
Business Brokers of Florida Letter HR 477 March 14 2017
Campaign for Clarity Update (PDF Version)
HR 477 Brief Summary January 17 2017
HR 477 Letter March 3 2017
Number of Businesses in US by State
Partial List of Supporting Organizations July 28 2016