Hello IBBA Affiliate Council Members,

At our Affiliate Council meeting in Orlando, Mike Ertl spoke about the importance of for the need for thousands of people across the country to contact their Senators in support of Senate Bill S-1010. Mike shared the status of the ongoing Campaign for Clarity and the next steps that we can take to help. I would like to remind you that Mike Ertl, along with other volunteers of the brokerage industry, have worked tirelessly over the past many years to help get business brokers exempt from the onerous and expensive SEC registration process and to protect us from potentially losing commissions.

The House of Representatives has unanimously approved the House bill corresponding to S-1010. We now need to move the Senate bill forward for a vote. This is the closest we have come to getting this legislation across the finish line and we need to do this before the end of this Congressional session. Otherwise we must start all over with a new Congress. So, please help by following the simple instructions below.

I’ve attached some materials that will be helpful in rallying your members to support this important initiative.

Attached please find:

  • A 1-page PDF brief on S-1010, as well as the full text for The Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act of 2015.
  • The text of the “Rally Congress” letter to US Senators, which can be emailed, as is, by a business broker, or easily edited as follows to be appropriate for business attorneys, accountants, bankers, business owners, etc.
    • Edit the following phrase which appears at the beginning of paragraphs 1 & 6, as follows:
      • FROM “…as a business broker /M&A advisor myself…”
      • TO “…as a business (banker /accountant /attorney /owner /etc.) myself…”

By going to the following link, the process to send the above letter to your Senator is made very easy. Just follow the instructions and make the above changes to paragraphs 1 and 6, depending upon your profession. I promise it will take you less than three minutes.

The above website will do all the work for you.  Try it!!

Please send an email, similar to mine, to each of your members.  Ask them each to send their own letter and forward these instructions to their bankers, attorneys, accountants, clients, business owners that they know, etc., so that they may do the same. Senators become motivated when their constituents are vocal about an issue. If each senator receives hundreds, or even thousands, of letters in support of this bill, they are likely to act. So please help us get many such letters to all 100 senators.

Thank you for your help and support for the Campaign for Clarity. The website above shows that more than 2,300 letters were already sent to Senators. Our goal is to raise that number by a factor of 10 during the month of June and July.

Attachments:
S. 1010 – H.R. 686 M&A Brokers – Summary (2015-12-12)
Rally Congress Letter to US Senators
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16-10-13-15470410_illinois-ma-rule