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On October 7, 2020, the SEC voted 3-2 to propose a conditional exemption from broker-dealer registration to natural persons who engage in limited securities activities on behalf of private issuers.

As a Minority Business Enterprise (MBE), BurgherGray is proud to be BEP Certified in the State of Illinois, recognized by the Business Enterprise Program (BEP) for Minority, Females, and Persons with Disabilities.

On July 31, 2020, the IRS issued proposed regulations ([REG-
107213-18]) under Section 1061 of the Internal Revenue Code
(the “Code”) as required by Code Section 1061(f). The proposed
regulations provide guidance on the application of Code Section
1061, and also include new regulations regarding the treatment
of carried interests held by the partnership sponsor or through
one or more tiered pass-through vehicles. Also, the proposed
regulations contain new reporting rules.