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Series 7 Notes
Equity Securities
Term | Definition |
---|---|
Stock | Form of Ownership Equity in a Company |
Syndicate | Group of Underwriters, each responsible for selling a portion of the securities |
Syndicate Agreement | syndicate members who agree to who gets paid, responsibility of each member |
Eastern Syndicate Account | responsibility of sales is shared among members |
Western Syndicate Account | each member is ONLY responsible for their portion of assigned syndicate shares |
Steps in Registering Securities (6) | (1) Register w/ SEC (2)Preliminary prospectus/red herring (3) from syndicate (4) due diligence meeting (5) Meet Blue Sky Laws (6) Public Offering / final prospectus |
Ways to Register w/ State (3) | Coordination - issuing co files w/ SEC & SEC helps file w/ State Qualification: Sec Exempt from filing with SEC but must file with State Notification: Established co. already filed w/ state can renew application |
Initial Public Offering (IPO) |