Soliciting Business and New Issues: Rapid Fire

What this video covers

• The three phases of a new issue (pre-registration, cooling-off, post-effective) and what Rita the Rep can do in each one
• Why the 20 calendar day cooling-off period is a minimum, not a fixed date, and how a deficiency letter resets the clock
• When the 48-hour rule applies (first-time initial public offerings only) and why established companies are exempt
• The difference between firm commitment and best efforts underwriting, and why selling group members take zero unsold-share risk
• How to calculate accredited-investor status including the primary-residence exclusion, plus the alternative qualifications (income tests and professional licenses)
• The two Regulation D variants: traditional (up to 35 sophisticated non-accredited) versus accredited-only general solicitation (zero non-accredited, verification required)
• Why intrastate offerings are all-or-nothing and how one out-of-state sale destroys the exemption for everyone, plus the 6-month resale hold
• Municipal bond documents (Preliminary Official Statement, Official Statement, EMMA) and why a Notice of Sale targets underwriters, not investors
• Customer account record deadlines (30 days to open, 36 months to update) and the taping-rule thresholds including the middle-tier trap of 4 registered persons