New FINRA Rule 5131 Will Affect Lock-Up Agreements For IPO Shares Held By Officers And Directors Of The Issuer
Mondaq Business Briefing › United States Law Articles in English (2011)
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New FINRA Rule 5131 Will Affect Lock-Up Agreements For IPO Shares Held By Officers And Directors Of The Issuer
FINRA Rule 5131 (the "Rule"), portions of which became effective on May 27, 2011, provides new prohibitions and requirements for underwriters when they are pricing and allocating IPO shares. While the Rule, known as the IPO Allocations Rule, technically applies only to FINRA member firms, as a practical matter, it will also affect IPO issuers, venture capital investors with board se...
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