FINRA Announces “Same Day Clearance” for Shelf Offerings
As of March 1, 2010, underwriters of accelerated shelf offerings that are not otherwise exempt from filing under FINRA’s Corporate Financing Rule (i.e., Rule 5110) may obtain Same Day Clearance of their filings with FINRA if specific representations are made regarding their accelerated shelf offerings. The objective of this Same Day Clearance option is to alleviate delays associated with FINRA clearance for accelerated offerings.