WASHINGTON – The House passed Sen. John Kennedy (R-La.) Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act, which helps small business owners access the services of small business merger and acquisition (M&A) brokers.
M&A brokers help small business owners who want to sell their businesses or merge with other companies so that their companies can continue to expand and support job growth.
“This bill will give small businesses more flexibility to create and keep jobs. The Senate now has the opportunity to pass this bill immediately so that job creators can continue to build stronger businesses. serving their employees and community. said Kennedy.
The bill would allow small business M&A brokers to organize sales and purchases of ownership as well as control private companies that are not registered 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 in the path faced by M&A brokers in trying to help small businesses. Kennedy’s bill would make M&A services cheaper and accessible to small business owners who need help buying or selling companies.
Kennedy’s bill is now awaiting passage in the Senate.
The text of the Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act is here.