Unlocking Capital for Small Businesses Act of 2023

The Unlocking Capital for Small Businesses Act of 2023 simplifies capital-raising for small businesses by creating federal exemptions for private placement brokers and finders. These intermediaries help small businesses connect with investors but face costly registration rules under current law. The bill exempts them from full broker registration requirements, mandates clear disclosures about compensation and conflicts of interest, and prevents states from imposing stricter rules than federal standards. This directly affects small businesses seeking funding and the brokers who assist them by reducing regulatory barriers and costs.