Regulatory Alerts2012-03-22
Added · Updated
Underwriting Issues of Securities
The Supervisor of Banks mandates that banking corporations establish internal policies and procedures governing their activities as underwriters of securities issues. The regulation imposes specific capital-based restrictions, including a general limit of 50% of capital for total underwriting commitments and a 10% to 24% limit for single-issuer exposure. Additional prohibitions prevent banks from underwriting issues that would result in controlling stakes in other banks or engaging in unauthorized investment activities.
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