EB5 Investors Magazine "Top 25 Awards Edition" Volume 8 Issue 1 - Page 98

YOUR TRUSTED GLOBAL INVESTMENT & BUSINESS IMMIGRATION ADVISORS EB-5 | L -1 | E-2 | CBI KLD LLP’s global investment and business immigration practice draws upon extensive experience representing the entire EB-5 industry, including Regional Centers, Developers, Agents, and Investors. We work closely with our clients throughout the EB-5 deal cycle, including: Successfully advised on $2+ Billion in EB-5 Deals & 2000+ EB-5 Petitions from investors around the globe Regional Center & EB-5 Project Counsel – I-924 exemplars and EB-5 offerings for real estate, public/private infrastructure, charter schools, and publicly-traded franchisors EB-5 Expert witness reports, due diligence, and restructuring troubled projects Eric Dominguez Partner edominguez@kldllp.com act. Other states have similar criteria. What Tier 2 investors would be allowed to perform under the SEC’s proposed relief include many of the traditional broker-dealer activities, including receiving transaction-based compensation and soliciting investors on behalf of the issuer. The SEC’s exemptive relief would not override the registration requirements of the Commonwealth of Massachusetts. As a result, anyone "The proposed finders’ exemptions are not yet in effect. One must avoid the temptation to simply default to new “finder laws” to avoid dealing with complex solicitation issues" proposing to rely on the SEC’s relief would still need to investigate state law to determine whether he or she could perform any of the permitted Tier 2 finder activities without violating state law. 98 EB5 INVESTORS MAGAZINE KLD LLP 3600 Wilshire Boulevard, Suite 1108, Los Angeles, CA 90010 • (310) 817-0478 info@kldllp.com • www.kldllp.com Phuong Le Partner ple@kldllp.com Most importantly, the proposed finders’ exemptions are not yet in effect. One must avoid the temptation to simply default to new “finder laws” to avoid dealing with complex solicitation issues. Parties that seek to engage in finders’ activities based solely on these yet-to-be-enacted proposals should not do so. State law requirements as well as SEC no-action guidance should be reviewed and opined upon by the issuer’s counsel to address the fact-specific nature of the activity in question. Included in such an analysis would be whether the much- maligned “seeker” is indeed a finder under state and federal securities laws. Robert “Bob” Cornish is a securities litigation attorney serving EB-5 investors and market participants who applies his front-line perspectives as a compliance officer and counsel for funds, broker-dealers and investment managers. Cornish has experience in litigating in state courts, federal courts and arbitration forums such as FINRA and AAA. In addition, Cornish is a certified mediator who can propose and navigate alternative paths to costly litigation. He is a graduate of Davidson College and the Cumberland School of Law of Samford University, a member of the EB-5 Securities Attorney Roundtable and is frequent speaker and commentator on securities and litigation matters.