SEC Issues FAQs on Research Analysts and Underwriters Under JOBS Act

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August 22, 2012

Today, the SEC staff issued Frequently Asked Questions (FAQs) on provisions of the JOBS Act that affect research analysts and underwriters, addressing questions relating to, among other topics:

  • test-the-waters communications by underwriters on behalf of emerging growth companies;
  • the impact of the JOBS Act on the "global settlement" (the court-approved agreement in 2003 that required many major investment banking firms to separate their research and investment banking functions and severely limit the interactions between equity research analysts and investment bankers);
  • the interaction between the JOBS Act and certain FINRA and SEC rules relating to research analyst activities; and
  • the permissibility under the JOBS Act of certain specific activities by research analysts.

Click here to read the SEC's FAQs.

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Topic:Regulatory Developments