Law Commons^™

Finders Sleepers: Why Recent State Regulation Of Financial Intermediaries Should Rouse The Federal Government From Its Slumber, Jeffrey D. Chadwick

Richmond Journal of Law and the Public Interest

This comment argues that the current treatment of financial intermediaries in the capital-raising process is unresponsive to the changing landscape of the small business community. Not only does the SEC inadequately define the permissible role of a finder, recent legislation in Texas and South Dakota foreshadows the ills of a dual regulatory society. Rather than waiting for states to address the finder's dilemma on an ad hoc and inconsistent basis, the federal government should create an SEC-registered class of finders to facilitate capital formation and jumpstart a receding American economy. Part II examines the expanding role of financial intermediaries in …