FINRA and Securities Offerings: The Road to No Objections

Resource type: Practice Note

Status: Maintained

Jurisdiction: USA

This Practice Note discusses the role of the Financial Industry Regulatory Authority (FINRA) in SEC-registered securities offerings. The Note reviews the types of offerings that are affected and the role of counsel in filing with FINRA and managing the FINRA review process (focusing on the process in the context of an IPO). The Note discusses common issues in the process, including analyzing underwriting compensation and arrangements under FINRA Rule 5110 (the corporate financing rule) and underwriter conflicts of interest under Rule 5121 (the prominent disclosure and QIU rule). It discusses considerations relevant to shelf offerings that are not exempt from filing with FINRA.

PLC Corporate & Securities

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Resource ID: 5-502-2004
Products: PLC US Corporate & Securities, PLC US Law Department
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

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