Additional Filing and Notification Requirements

What this video covers

• What syndicate managers must disclose to participating broker-dealers: public offering price, concession, and reallowance
• Which activities syndicate managers must report to the Financial Industry Regulatory Authority (FINRA): penalty bids, stabilizing activities with exact start and end times, overallotment, and syndicate short covering transactions
• Why securities purchased inside a bank are never Federal Deposit Insurance Corporation (FDIC) insured, never bank deposits, and never guaranteed by the bank
• What triggers the FINRA taping rule: employing a high percentage of registered persons from disciplined firms
• The $10 million threshold that triggers the Trust Indenture Act of 1939 for corporate debt offerings over a rolling 36-month period
• Why the trustee under the Trust Indenture Act is a fiduciary for bondholders, separate from the issuer
• Why the Trust Indenture Act applies to corporate debt but not equity, and why the $10 million figure differs from the separate Regulation A $50 million exemption