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Wikipedia has a pretty good entry on [[QIB]]s: | {{a|repack|}}Wikipedia has a pretty good entry on [[QIB]]s: | ||
https://en.wikipedia.org/wiki/Qualified_institutional_buyer | https://en.wikipedia.org/wiki/Qualified_institutional_buyer | ||
This concept is relevant to | This concept is relevant to [[U.S. persons]] who are purchasing {{tag|debt securities}} in offerings which are not SEC registered. Generally {{tag|US persons}} cannot buy from public offers of securities that are not registered with the SEC (known as {{tag|Regulation S}} issues - it includes most {{tag|Eurobond}}s issued in the London market. | ||
There is an exemption - the Rule 144A exemption, which applies to private offers of securities to [[QIB]]s. QIBs are basicvally "big boys" who do not require SEC protection to make these investments. They must hold the securities for a certain period before selling them. | There is an exemption - the Rule 144A exemption, which applies to private offers of securities to [[QIB]]s. QIBs are basicvally "big boys" who do not require SEC protection to make these investments. They must hold the securities for a certain period before selling them. | ||
Not to be confused with TEFRA rules relating to [[bearer security|bearer securities]], which are tax related. | Not to be confused with TEFRA rules relating to [[bearer security|bearer securities]], which are tax related. | ||
{{sa}} | |||
*[[US private placement]] |