Cover Your Backside: FINRA Proposes To Allow Tail Fees and ROFRs
|July 6, 2012|
Previously published on July 2, 2012
FINRA recently issued Regulatory Notice 12-27 regarding proposed amendments (the “Proposed Amendments”) to FINRA Rule 5110 (the “Corporate Financing Rule”). Provided that certain criteria are satisfied, the Proposed Amendments would afford issuers and investment banks with greater flexibility to use termination fees (“Tail Fees”) and/or rights of first refusal (“ROFRs”) in structuring and negotiating engagement letters and underwriting and financial advisory services.
The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.
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