January 8, 2016
FINRA Proposal: Reduce Burdens on Boutique Investment Banks
As noted on this MoFo blog, FINRA has filed a proposed rule with the SEC which would reduce the regulatory burden for broker-dealers that limit their activities to M&A and certain corporate financing transactions. The proposed rule would create a new category of broker-dealers called “Capital Acquisition Brokers” or “CABs.” The proposed rule was published in the Federal Register on December 23th and will become effective after SEC approval, which normally occurs within 45 days after the date of publication.