Required Notification Related to IPOs and Secondary Offerings

What this video covers

• Why FINRA offering notices support surveillance of Securities and Exchange Commission (SEC) Regulation M compliance and do not themselves prohibit trading
• Who bears the primary filing duty as manager, and how a written assumption of responsibility can shift that duty to another member
• What the determination, pricing, and cancellation or postponement notices must cover, including the exact deadline for each filing
• Why the determination notice is due no later than the business day before the first complete trading session, while a cancellation or postponement notice is due immediately
• How actively traded distributions still require a notice stating that no restricted period applies, plus a pricing notice due by the close of business the next business day
• How penalty bids and syndicate covering transactions involving over-the-counter (OTC) equity securities use an intention notice before activity and a confirmation notice within one business day after completion
• When a member must withdraw quotations and refrain from entering a stabilizing bid in a covered OTC equity security, and why no quotations means nothing to withdraw