Introduction to ICR

ICR is Not a Broker-Dealer

ICR is not a broker-dealer and, therefore, refrains from any broker-dealer activity.

Section 3(a)(4) of the Exchange Act defines a "broker" as any person who is "engaged in the business of effecting transactions in securities for the account of others." Section 15 of the Exchange Act makes it unlawful for a broker or dealer "to effect transactions in, or to induce or attempt to induce the purchase or sales of, any security (other than an exempted security or commercial paper, bankers’ acceptances, or commercial bills) unless such broker or dealer is registered" with the Commission.

A person affects transactions if he or she participates in securities transactions "at key points in the chain of distribution." Such participation includes, among other activities, assisting an issuer to structure prospective securities transactions, helping an issuer to identify potential purchasers of securities, soliciting securities transactions, and participating in the order-taking or order-routing process (for example, by taking transaction orders from customers). Factors indicating that a person is "engaged in the business" include, among others: receiving transaction-related compensation; holding one’s self out as a broker, as executing trades, or as assisting others in completing securities transactions; and participating in the securities business with some degree of regularity. In addition to indicating that a person is "effecting transactions," soliciting securities transactions is also evidence of being "engaged in the business." ICR does not assist in structuring, does not write business plans and does not sell investments to others. We do train and educate as to how to approach angels and we do provide lists of sources.