• Cover Your Backside: FINRA Proposes To Allow Tail Fees and ROFRs
  • July 6, 2012
  • Law Firm: Butler Snow OMara Stevens Cannada PLLC - Ridgeland Office
  • 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.