Series 53: 4.2.4.10.1. Order Period And Order Priorities

Taken from our Series 53 Online Guide

4.2.4.10.1. Order Period and Order Priorities

The syndicate manager must provide a summary of the rules of order priority to each syndicate member. This must be submitted before any offer is made to a customer. These rules can be included in the syndicate letter or Agreement Among Underwriters and must include:

A written statement of all terms and conditions required by the issuer

The priority provisions and the procedure by which such priority provisions may be changed

Whether the syndicate manager may allocate securities on a case-by-case basis, other than in accordance with the priority provisions

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