FL H0817

Adds exemption from securities registration requirements for offers or sales of securities solely connected to ownership transfers of eligible privately held companies through merger and acquisition brokers.

Defines "eligible privately held company" as a company with no SEC or state registration, earnings before interest, taxes, depreciation, and amortization of less than $25 million, or gross revenues less than $250 million (amounts subject to adjustment every 5 years starting July 1, 2021).

Requires merger and acquisition brokers to obtain written assurances from control persons of both buyer and seller confirming that post-transaction acquirers will be control persons and that persons receiving securities will have access to issuer financial statements before becoming legally bound.

Exempts merger and acquisition brokers from registration unless they: receive or hold transaction funds/securities, engage in public offerings of registered securities, facilitate public shell company transactions, or have suspension/revocation of registration or statutory disqualifications under federal law.

Takes effect July 1, 2016.