Fund Manager Brian Callahan Pleads Guilty In $96 Million Ponzi Scheme

On April 29, 2014, Brian Callahan pleaded guilty to one count of securities fraud and one count of wire fraud for operating a $96 million Ponzi scheme through his various

SEC Explains Merger & Acquisiton Brokers

On February 4, 2014, the Securities and Exchange Commission (the “SEC”) released a No Action Letter  in response to a request from the American Bar Association Task Force on Private Placement Brokers.  The SEC’s response confirmed the circumstances under which Merger and Acquisition Brokers are exempt from the SEC’s broker-dealer registration provisions.

The SEC’s response provides useful information for both small and large business owners seeking to sell their businesses.