Kennedy Introduces Bill to Help Small Business Owners Buy, Sell, and Merge Main Street Businesses – News Releases
WASHINGTON – Senator 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 mergers and acquisitions (M&A) brokers. M&A brokers help small business owners who want to sell their business or merge with other businesses so their businesses can continue to grow and support job growth.
“Whether they want to buy new businesses, sell their business, or retire, small business owners depend on M&A brokers to help them adjust to these changes. We need to ensure that Main Street entrepreneurs have constant access to financial services so that American small businesses – and the jobs that depend on them – can continue to thrive, ” Kennedy said.
The bill would allow small business M&A brokers to arrange 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 hurdle for M&A brokers. This would make their services more affordable and accessible to small business owners who need help buying or selling businesses.
The text of the Law on the simplification of mergers, acquisitions, sales and brokerage of small businesses is available here.