Completion of Broker-Dealer Due Diligence Assignments

We have written and blogged extensively about the increased scrutiny being put on broker-dealers when acting as a placement agent for Regulation D offerings.  See here.  We recently completed an assignment as due diligence counsel for a broker-dealer, and I am very pleased with the outcome.  We improved the offering by identifying several red flags that the issuer subsequently addressed, and ultimately both the issuer and our client were more comfortable, and dare I say more confident, in the quality of the offering.  I don’t have a way to measure this, but I suspect that the increased confidence will be reflected in the investor meetings, and may help the offering be more successful.  We start another similar assignment this week.