Table of Contents - Practising Law Institute

§ 44:9.3 Procedures Required by Rule 5150...................... 44-63
§ 44:10 FINRA Rule 5160 (Disclosure of Price and
Concessions in Selling Agreements) ........................... 44-63
§ 44:10.1 Overview ............................................................. 44-63
§ 44:10.2 Requirements ...................................................... 44-64
§ 44:11 Anti-Manipulation Regulation of Distributions of
Securities .................................................................... 44-64
§ 44:11.1 Introduction to Regulation M............................. 44-64
§ 44:11.2 Rule 101 (Activities by Distribution
Participants and Their Affiliated Purchasers)...... 44-65
[A] General Prohibition ............................................ 44-65
[B] Is There a Distribution of Securities?................. 44-66
[B][1] Magnitude of the Offering and the
Presence of Special Selling Efforts and
Selling Methods ............................................... 44-67
[B][1][a] Magnitude of the Offering............................. 44-67
[B][1][b] Presence of Special Selling Efforts and
Selling Methods ............................................ 44-68
[B][2] Offerings Subject to Rule 101 .......................... 44-68
[B][2][a] Shelf Offerings............................................... 44-68
[B][2][b] “At-the-Market” Offerings ............................. 44-69
[B][2][c] Mergers and Exchange Offers........................ 44-69
[C] Is the Person Subject to Rule 101? ..................... 44-69
[C][1] Distribution Participant................................... 44-69
[C][2] Affiliated Purchasers ........................................ 44-70
[D]
Are the Distributed Securities “Covered
Securities”? ......................................................... 44-72
[D][1] Subject Securities............................................. 44-72
[D][2] Reference Securities ......................................... 44-72
[D][2][a] Derivatives .................................................... 44-73
[D][2][b] Fixed-Income Securities ................................ 44-73
[D][2][c] Target Company Securities............................ 44-74
[D][3] Securities Excepted from Rule 101 .................. 44-74
[D][3][a] Actively-Traded Securities.............................. 44-74
[D][3][b] Investment Grade Non-Convertible and
Asset-Backed Securities ................................. 44-75
[D][3][c] Exempted Securities ...................................... 44-76
[D][3][d]
Face-Amount Certificate or Securities Issued
by an Open-End Management Investment
Company or Unit Investment Trust ............. 44-76
[E] Are the Activities Prohibited by Rule 101? ......... 44-76
[E][1] General Prohibition ......................................... 44-76
[E][2] Excepted Activities........................................... 44-77
[E][2][a]
Table of Contents
Research Complying with Securities Act
Rule 138 or 139 ............................................ 44-77
(Broker-Dealer Reg., Rel. #3, 5/13)
cxlix