Series 24: Agreement Among Underwriters (AAU)

Taken from our Series 24 Online Guide

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Agreement Among Underwriters (AAU)

The AAU is an agreement among all underwriters in the syndicate. This agreement is also called the syndicate agreement.

Some of the most important characteristics of the AAU include:

• It spells out the duties and rights of each member of the syndicate.
• It states the allocation of shares and the liability of each underwriter. If the account is a Western account, members

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