SEC's Proposed Exemptive Order For Finders Overlooks California Exemption

Yesterday's big news at the Securities and Exchange Commission was a proposed exemptive order for finders.  The question of whether issuers can compensate anyone other than a registered broker for finding investors has bedeviled attorneys and...

California Finders Rule May Soon Take Effect

Nearly one year ago, the California Department of Business Oversight proposed regulations to implement the provisions of AB 667 (Wagner).  The bill, which was enacted in 2015 and took effect last year, created a new exemption from the broker-dealer...

Department Of Business Oversight Proposes Changes To Proposed Finders Rule

Last July, the California Department of Business Oversight proposed regulations to implement the provisions of AB 667 (Wagner).  The bill, which was enacted in 2015 and took effect last year, created a new exemption from the broker-dealer...

Finance Lenders Annual Report Deadline Is Nigh

Lenders and brokers licensed under the California Finance Lenders Law must file an annual report by the Ides of March (i.e., March 15) of each year.  Cal. Fin. Code § 22159.  This is a hard deadline and the Department of Business Oversight does not...

Bill Introduced To Require Registration Of Finders Under The California Finance Lenders Law

The California Finance Lenders Law, Financial Code § 22000 et seq., currently requires licensing of finance lenders and brokers.  A finance lender is defined as any person who is engaged in the business of making consumer loans or making commercial...

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