Goodman Pens Article for Bloomberg BNA's "Securities Regulation & Law Report"
An article written by Partner Stephen M. Goodman, a member of Pryor Cashman’s Corporate, Banking & Finance and Investment Management groups, was recently published in Bloomberg BNA’s Securities Regulation & Law Report.
Goodman’s article, Vanishing Breed: The Narrowing Opportunities for Unregistered Finders, explores the challenges faced by small business owners who seek investment capital from “finders,” i.e., individuals who are not formally registered as “broker-dealers” with the Securities and Exchange Commission (SEC), but offer to raise funds in exchange for a percentage of the proceeds. Goodman also discusses several recent no-action letters issued by the SEC, including the Brumberg letter, and examines the risks borne by both finders and business owners when the finder’s activity is deemed to involve “inducing or attempting to induce” the purchase or sale of any security.
To read the full article, please click here .
