The Small Business Mergers, Acquisitions, Sales & Brokerage Simplification Act was added to the Consolidation Appropriation Bill and signed into law on December 23rd.
The “Campaign for Clarity” effort, as many know it, has been underway for 15 years, has received unanimous (or darn close) support every time it comes up, but has never been attached to a bill that made it through, until now! The Act codifies the SEC No-Action Letter, making it law, not just a position by the SEC, that defines when and when you don’t need a securities license.
Read the Act here: Small Business M&A Simplification Act H.R. 2617 Consolidated Appropriations Act_ 2023 12-23-22