Additional Filing and Notification Requirements

What this video covers

• The three compensation items syndicate participants must disclose to each other (public offering price, concession, and re-allowance) and why secrecy is prohibited
• Which offering events require FINRA notification (restricted-period determination, pricing, cancellation or postponement, penalty bids, and syndicate covering transactions) and the timing for penalty bids and syndicate covering transactions
• Where stabilizing bid notice goes under Regulation M (to the market, not FINRA) and why this distinction is a common exam trap
• The four mandatory disclosures in bank networking arrangements (not Federal Deposit Insurance Corporation (FDIC) insured, not bank deposits, not guaranteed by the bank, subject to investment risk including loss of principal)
• What triggers the taping rule and which conversations must be recorded
• The $10 million threshold for the Trust Indenture Act of 1939, the small-issue exemption, and why the Act applies to corporate debt but never to equity
• The role of the trustee as fiduciary for bondholders under the trust indenture