Amendments to the FINRA New Issue Rule (Rule 5130) and Anti-Spinning Rule (Rule 5131): First Analysis

This article discusses recent amendments to Financial Industry Regulatory Authority (FINRA) Rule 5130 (Restrictions on the Purchase and Sale of Initial Equity Public Offerings) and Rule 5131 (New Issue Allocations and Distributions), which were originally published for comment in the Federal Register on August 8, 2019 and approved by the Securities and Exchange Commission (the SEC) on November 5, 2019.