S. 3391 · 117th Congress
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021
- Stage
- In committee
- Sponsor
- John Kennedy
- Introduced
- 2021-12-14
- Latest action
- 2022-04-05 · Committee on Banking, Housing, and Urban Affairs. Hearings held.
Summary
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021
This bill exempts from securities registration requirements certain merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. However, this exemption shall not apply to certain brokers, including those that provide financing related to the transfer of ownership, engage on behalf of any party in a transaction involving specified shell companies, or are subject to suspension or revocation of registration.