The Role of the U.S. Securities & Exchange Commission in the IPO Process

The Initial Public Offering (IPO) is a transformative milestone for private companies looking to raise capital by offering shares to the public for the first time. While IPOs offer significant opportunities for growth and access to broader investor bases, they also come with a complex regulatory framework designed to ensure market integrity and protect investors. … Read more

The Allocation of Shares in the IPO

The Allocation of Shares in the IPO

Initial Public Offerings (IPOs) mark a significant milestone for a company transitioning from private to public ownership. For investors, IPOs represent an opportunity to invest in a company during its public debut, often at a price point that could be lower than subsequent trading levels. However, the process of share allocation in an IPO can … Read more

The IPO “Quiet Period” under U.S. Securities Law

The IPO "Quiet Period" under U.S. Securities Law

Introduction The “quiet period” is a fundamental concept under U.S. securities law that governs communications by companies, underwriters, and insiders during the process of an initial public offering (IPO). This period is intended to ensure a fair and level playing field for all investors by limiting the dissemination of information that could unduly influence investor … Read more

Definition of a Passthrough Security

Pass-Through Securities

This article was written for Investopedia By TROY SEGAL updated May 29, 2020 and reviewed by GORDON SCOTT. I reproduce it here because it is generally excellent but modified because it contains several errors. What Is a Pass-Through Security? A pass-through security is a security transferring fix or variable income from one or more income … Read more

The Consolidated Tape

Financial Market Consolidated Tape

In any financial market, the concept of the consolidated tape represents more than just a utility; it serves as the backbone of market transparency and efficiency. The consolidated tape aggregates real-time data from multiple sources into a single stream, providing market participants with a unified view of prices, trades, and volumes across the entire market. … Read more

Plea for a Love Relationship Rooted in Passion

Plea for a Love Relationship Rooted in Passion

In the vast expanse of human connection, there exists a path that begins not with the gentle warmth of friendship but with the electric spark that ignites a fire: passion. This is the kind of connection that transforms two individuals—each like unyielding pieces of metal—into a fused alloy through the heat of their shared intensity. … Read more