Responsibilities for Offerings of Securities
Since federal law requires disclosure of only material information, who of the following bears the responsibility for ensuring the quality and fairness of an offering?
• The managers and directors of the issuing company
• The investment bankers
• The securities lawyers
Should an independent agency be appointed to oversee such offerings? If so, at whose expense? If not, why?
Submit your answers in a 2- to 3-page Microsoft Word document.