Support HR 2274 Broker-Dealer Law

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Broker-Dealer Alert! (HR 2274)

Message From The President Of CABI


CABI Members,

We discussed the importance of HR 2274 at our conference last week. I wanted to follow up to make sure you knew how you could support the effort. This bill would allow us to act as M&A brokers in effecting the sale of businesses. It would NOT allow us to raise capital or conduct an IPO or do other broker dealer regulated activities. We need your help financially (pledge card attached) and politically by writing, e-mailing, or calling your senators and congressperson asking for their support of this legislation.

There are no standard letters prepared but here are some talking points you might consider:

  • This has been one of the top recommendations of the SEC hosted Government Industry Forum on Small Business Capital Formation since 2006. The bill would create a simplified one time public notice registration.
  • The bill will reduce the complexity and cost of maintaining middle market liquidity.
  • Currently, many small business owners are forced by cost to use service providers outside the regulatory environment with the risk of rescission or to forego professional marketing services altogether leaving them at a significant disadvantage in negotiations.
  • M&A transactions already have lawyers and others providing professional advice and recommendations to the principals in a transaction.

You may also want to go through the attached material and get additional talking points for your representatives. We have also included contact information for Colorado politicians. Because of e-mail saturation, Congress does not use traditional e-mail. There is a special Congressional system that will allow you to contact your senators and representative based on your ZIP code.

This legislation has been around since 2006. It appears the forces are finally aligning in our favor and that may not happen again for a while. Please support the effort by contacting your political representatives (as I have) and consider a financial contribution — either a check or a pledge from your next closing.

Let’s make sure CABI helps push this bill over the top and into law!

Tom Lindahl, CABI President
c/o Gottesman Company
303-415-2593 (office)
303-530-2559 (home office)
303-530-1963 (private fax)

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