Series 14: 6.1.6.3. Rule 139: Participating Broker-Dealers, Issuer-Specific Reports, And Industry Reports

6.1.6.3. Rule 139: Participating Broker-Dealers, Issuer-Specific Reports, and Industry Reports

A broker-dealer that is participating in the distribution of an issuer’s registered offering may publish or distribute a research report about the issuer or any of its securities (including the ones being distributed in the offering) if the issuer is a seasoned issuer or well-known seasoned issuer. A seasoned issuer is an issuer that meets certain criteria, the most important of which are being exchange-listed and having a public float of $75 million or more. (A company’s public float is the amount of its common stock not held by the company or its affiliates.) A well-known seasoned iss