FINRA warned investors to exercise caution when investing in small capitalization initial public offerings due to an increase in pump-and-dump schemes.
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FINRA adopted a rule change to "modernize, simplify and clarify" the filing process of underwriting terms and arrangements for members that participate in public offerings.
FINRA modified a proposal that would amend rules (i) restricting the purchase and sale of initial equity public offerings and (ii) on new issue allocations and distributions.
FINRA proposed amendments to rules on (i) restricting the purchase and sale of initial equity public offerings and (ii) new issue allocations and distributions. The amendments would exempt additional persons and offerings from the scope of the rules.
FINRA provided guidance for broker-dealers on (i) compliance with its private placement rules and (ii) filing requirements for public offerings.