SIE: New Issues & Regulations

Types of underwriting commitments
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Terms in this set (16)
Securities Act 1933 Applies to : Registration statement :Non-exempt issues Prospectus is required 20- day cool off period. "full and fair"Prospectus is delivered whenAt or prior to confirmation for 90 day period following effective date.Who are the exempt issuersDirect Obligations of U.S. gov Agencies Munis Foreign Insurance companies (not variable annuity) Bank Issues Common Carrier Non-profit Bankers' Acceptance and Commerical paper SBICNon- Exempt IssuesCorporate Stock, Bond, Warrants Options Investment Companies and Variable Annuities Limited PartnershipsExempt TransactionsRule 147 (intrastate) Reg D (Private Placements) PIPE Transactions (private investment in public equity) Rule 144 Rule 144A (QIB) Reg SRule 147 - Intrastate exemption100% of issue sold to state residents Issuer must be state residents 6-month resale restriction Still Must comply with blue sky laws