FINRA modified a proposal that would amend FINRA Rule 5110 ("Corporate Financing Rule
- Underwriting Terms and Arrangements") to make
"substantive, organizational and terminology"
changes.
As previously covered, FINRA stated that the
proposal would simplify certain provisions while maintaining
protections for market participants. In addition, the proposal
would update cross-references and make technical changes to other
FINRA rules as a result of the amendments.
As modified in response to public feedback, FINRA's proposed
amendments would, among other things:
- clarify and reduce filing
requirements;
- codify filing requirement exemptions
for shelf offerings;
- expand and clarify the scope of Rule
5110 exemptions;
