Please enable JavaScript.
Coggle requires JavaScript to display documents.
Unit 1 - The New Issues Market - 5 Qs - Coggle Diagram
Unit 1 - The New Issues Market - 5 Qs
Bringing new issues in the market
Primary market
comission , underwriters
Secondary market
mark up and mark down, dealers
Participants :check:
Issuer
Underwriter
Syndicate
Selling Group
Principal or agent capacity
Types of underwriting agreement
Firm commitment :check:
Standby :check:
Market out clause :check:
Best Efforts :check:
All or none
Mini Max :check:
Underwriting Munis
Syndicate
Syndicate Bid
Western account, eastern account
Order Allocation, period, priorities ( presale order, group net order, designated order, member order and member related order)
Underwriting Spread :check:
Formula / divided into syndicate manager, members, selling group / which part are more important and less :check:
SEC and FINRA rules on new issues
Exempt transactions
Reg A: small and medium offerings
Red D: Private placements
Intrastate Offerings
Reg S: foreign
Rules on new issues market
Rule 145: Shelf Regitration :check:
Rule 144 and 144 A: restricted securities :check:
Protecting the public and restricted persons
spinning, spoofing
Registration requirements
Securities Act of 1933
Exempt, State Registration, Registration process, Pricing the Issues
Filed with the SEC
Red Herring :check:
Final Prospectus :check:
(Effective, Statutory Prospectus) Summary Prospectus
Offering statement :check:
Statement of additional Information (SAI)
Trust Indenture