CA AB713

Adds an exemption from broker-dealer licensing requirements for finders who meet specific conditions, including filing an initial statement with the Department of Business Oversight and paying a filing fee of up to $300.

Defines a "finder" as a natural person who introduces or refers accredited investors to issuers for potential securities sales, but prohibits finders from negotiating terms, providing investment advice, conducting due diligence, or receiving custody of funds.

Requires finders to file a notice with the Department of Business Oversight within 20 business days after the first sale of securities for each issuer transaction, with filing fees of up to $50 per notice.

Mandates that finders obtain written consent agreements signed by the finder, issuer, and investor that disclose compensation, conflicts of interest, and that no investment advice is being provided.

Requires finders to maintain records for five years and limits finder activities to securities transactions of $25 million or less in the aggregate.