The SEC approved amendments to the FINRA New Issue Rule (Rule 5130) and Anti-Spinning Rule (Rule 5131) on November 5, 2019. FINRA announced on December 19, 2019 that the amendments take effect January 1, 2020.
Absent an exemption, FINRA Rule 5130 prohibits securities industry insiders–such as broker-dealers, registered representatives, owners of broker-dealers, portfolio managers and finders and fiduciaries–from purchasing IPO shares through any account in which they have a “beneficial interest.” Rule 5131 prohibits the allocation of new issues to accounts in which executive officers or directors of a public company or a “covered non-public company” have a beneficial interest.
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Kroll provides comprehensive retained and ad hoc regulatory compliance consulting services, ensuring firms maintain a competitive edge amid evolving regulatory landscapes across the UK, Europe, North America, Hong Kong and Singapore.
Retained Compliance Support and Managed Services
Kroll provides comprehensive retained and ad hoc regulatory compliance consulting services, ensuring firms maintain a competitive edge amid evolving regulatory landscapes across the UK, Europe, North America, Hong Kong and Singapore.
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Kroll's expert team provides regulatory registration and licensing services taking the burden of regulatory requirements off business operators. We partner with you to answer regulator queries and assist you in developing a tailored operational framework that meets regulator and investor expectations.
Retained Compliance Support and Managed Services
Kroll provides comprehensive retained and ad hoc regulatory compliance consulting services, ensuring firms maintain a competitive edge amid evolving regulatory landscapes across the UK, Europe, North America, Hong Kong and Singapore.