Series 7 Exam Prep 4, New Issues, Underwriting, and Prospectus Delivery

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Series 7 Exam Prep 4, New Issues, Underwriting, and Prospectus Delivery

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This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The primary issuance process begins with filing an S-1 registration statement, which initiates a 20-day cooling-off period for SEC review. - During the cooling-off period, underwriters use a preliminary prospectus, or red herring, to gather non-binding indications of interest. - The underwriting syndicate assumes risk, typically in a firm commitment, while the selling group assists in sales without financial liability for unsold shares. - The underwriting spread compensates the syndicate and selling group, with the selling concession being the largest component paid to the firm that makes the sale. - Prospectus delivery is required for a set period after the effective date: 25 days for listed IPOs and 90 days for unlisted IPOs. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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