Topic
Guides
4 articles
Guide
Fairness Opinions Explained: What They Say and Don't Say
Fairness opinions explained: what an investment bank concludes, how the analysis is built, the conflicts FINRA Rule 5150 requires it to disclose, and limits.
Guide
Investment Bank League Tables Explained: How Rankings Work
Investment bank league tables explained: what they rank, how credit is split among banks, why providers differ, and the limits of using a deal league table.
Guide
How Underwriting Works: IPOs, Follow-Ons and Bond Deals
How underwriting works: the roles of underwriters, firm commitment and best efforts deals, bookbuilding, fees, stabilization, and the rules behind each step.
Guide
What Investment Banks Do: Advisory, Underwriting and Trading
What investment banks do: advising on mergers, underwriting securities, running trading and research, and the SEC, FINRA and Fed rules that frame the work.