With the NIBA Sales & Marketing Seminar set for October 20, 2009, followed the next day by the CTA Expo, our Members are presented with wonderful opportunities to meet other industry participants, such as CTAs and Capital Raisers, and to explore new business opportunities.
But, are there any legal pitfalls to avoid when discussing or touting your business models? While we must continuously navigate through the regulatory structure controlling registration requirements, types and methods of permissible solicitations of investors and how properly to configure revenue sharing arrangements, typically at professional conferences of this sort these legal issues are premature.
The audience at these events will consist of industry professionals and presumably not the general public searching for investment opportunities. If appropriate to your business, you may consider having available copies of your disclosure document or private placement memorandum to share if circumstances so dictate. Otherwise, enjoy the conferences and be productive. Just remember, when discussions escalate toward specific joint business enterprises, be sure to seek out the proper legal advice to insure you comply with applicable regulations.
Article submitted by: Steve McPherson, Attorney at Law, Schuyler Roche, LLC