The Financial Industry Regulatory Authority (FINRA) has proposed a limited form of registration for persons and organizations involved in finding capital for business deals. The title for such brokers would be “Limited Corporate Financing Brokers”, and the proposal is Regulatory Notice 14-09, available at
“Finders” regulation has been an active topic of conversation in the merger and acquisitions industry, especially since the SEC held that all persons who receive compensation contingent on a a raise are probably required to register as broker-dealers. See, e.g., In the Matter of Ranieri Partners, Release No. 34-69091 (Mar. 8, 2013); and see also In the Matter of William M. Stephens, Release No. 34-69090 (Mar. 8, 2013), and see generally remarks by the Chief Counsel of the Division of Enforcement on same to the American Bar Association, Trading and Markets Subcommittee Meeting: A Few Observations in the Private Fund Space (Apr. 5, 2013)..