Copy of New Issues Episode 10 Series 7 Exam Podcast

   • Series 7 Exam Prep Underwriting Municipals...      • Series 7 Exam Prep Initial Public Offering...   Knowledge of: • Process for bringing new issues to market (e.g., due diligence, registration statement, preliminary prospectus, final prospectus, underwriting agreement, selling group agreement, blue-sky laws and procedures) • Regulatory requirements for initial public offerings (IPOs) (e.g., restrictions on prospecting or soliciting, allowable communications with the public) • Primary financing for municipal securities (e.g., competitive sale, negotiated sale, private offering, advance refunding) • Syndicate formation and operational procedures (e.g., purpose of syndicate bid, roles and responsibilities of underwriters, selling group concession and reallowance) • Pricing practices and components of underwriters’ spread and determination of underwriters’ compensation and selling practices • Prospectus requirements (e.g., timeliness of information, preliminary prospectus (red herring), final prospectus) • Information required in a registration statement and offering material on new issue (e.g., in pre-filing period, in cooling-off period, in post-registration period) • Official statements, preliminary official statements, notice of sale for municipal securities • Qualified institutional buyer (QIB) and accredited investor • Qualification requirements for Regulation A offerings (e.g., filing of abbreviated registration statement and offering circular • Regulation D offerings (e.g., exemption from SEC registration, access to capital markets, accredited investors) • Securities and transactions exempted from registration, including Section 3(a)(11) of the Securities Act of 1933 and Rule 147 thereunder (i.e., intrastate offering) • Regulatory requirements for private placements or resales • Nonregistered foreign securities sold to institutions qualified in the U.S. • Foreign securities prohibited from being sold to U.S. investors