As a sponsor of the AM&AA's Licnesure Initiative, we have received the following communication from the AM&AA Licensing Task Force regarding a recent letter sent out by Utah's Department of Commerce:
"The attached letter was originally mailed to all Utah attorneys, business brokers and M&A advisors, and was being privately circulated at the recent IBBA/M&A SOURCE Conference in Atlanta.
It clearly indicates growing awareness/concern by some state regulators regarding business brokerage transactions that may be completed by agents who are not properly licensed under existing state and federal securities laws.
In the meantime, the AM&AA Licensure Task Force is working diligently to bring clarity and reason back to our profession with its joint Private Placement Broker and M&A Broker proposals, which are actively being considered by both the SEC and NASAA."
Here is a copy of the letter: Download Utah Licensing Letter
Burch & Company offers a solution to this issue, in that we license middle-market intermediaries under our existing broker/dealer platform. To discuss, give us a call at 816.842.4660.
