Confusion Lingers in the M&A Industry; Patten Training & Review Addresses Concerns Regarding How Many Securities Registrations Are Required

THE WOODLANDS, Texas, June 30, 2011 /PRNewswire/ -- The FINRA issued "Investment Banking Representative" registration category and Series 79 have thrown yet another curveball to the investment banking industry.

Independent investment bankers across the country are slowly learning that they must maintain an additional securities registration in order to sell a private placement. The Series 79 alone is no longer sufficient.

"What is causing the confusion is that the Series 79 clearly states that it covers the structuring and marketing of a private placement.  It wasn't until commissions were being withheld at closing tables that we learned the exam does not qualify someone to 'sell' a private placement," said Amy Cross, Partner and Chief Compliance Officer of StillPoint Capital.

For investment bankers who thought a Series 79 was the only registration they needed to raise capital or conduct a private placement, it is coming as a surprise almost two years later that they also must have a Series 7, Series 62 or Series 82 to conduct the "selling phase" of a private placement pursuant to the Investment Banking Representative registration category requirements.

StillPoint Capital highly recommends Patten Training & Review to assist and help all Investment Bankers successfully pass all their relevant securities exams because of their high success rate and unique training style for those who want to apply practical business knowledge to passing their relevant securities exams.  Deirdre Patten, President of Patten Training and Review, states, "We will gladly do all we can to make the investment bankers and M & A Advisors' endeavors a success." With a better than 90% pass rate, Patten has more than 25 years in the business customizing training programs to accommodate an individual's exacting needs to exceed their expectations.  "We will make the impact of these additional exams as stress free as possible for our investment banker and M & A Advisors' clients," added Patten.

Cross stressed that investment bankers can continue to conduct a mergers and acquisition transaction with a Series 79. "This clarification only applies to the selling of private placements," she said, "If you do not own your own broker-dealer, make sure you affiliate with one that has a full investment banking department so you can refer a private placement sale in the event you aren't dually registered. This scenario is always a win-win for the client and rep."

StillPoint Capital is a broker-dealer with international Affiliate Program.  StillPoint specializes in private placements and M&A transactions and is arguably comprised of the strongest group of independent investment bankers in the industry.  StillPoint Capital can be found on www.stillpointcap.com.

Patten Training and Review is headquartered at 6700 Woodlands Parkway, Suite 230, Box 128, The Woodlands, TX 77382.  Deirdre Patten, President, can be reached at 281-419-6030 or [email protected] and the company's website is www.pattentraining.com.

SOURCE Patten Training & Review LLC