Research Reports

What this video covers

• The 10-day quiet period for initial public offerings (IPOs) and why the old 40-day rule is a deliberate exam trap
• The 3-day quiet period for managers and co-managers in secondary offerings, and why regular syndicate members have zero quiet period
• The three exceptions to quiet periods: Emerging Growth Companies (EGCs), covered investment funds, and significant news or events authorized by legal or compliance personnel
• Why selective distribution to favored clients is prohibited, and why even a two-hour head start violates the simultaneous access rule
• The written policies and procedures requirement that firms must maintain to prevent selective distribution
• When third-party research is considered actively distributed (pushed) versus merely made available passively (pulled), and how the rules differ
• Why firms remain responsible for reviewing third-party research for accuracy and objectivity before active distribution, even though they did not write it