Member Private Offerings (MPOs)
Rule 5122 requires that firms file a private placement memorandum, term sheet or other offering document with FINRA's Corporate Financing Department at or prior to the first time such document is provided to any prospective investor. (The Securities and Exchange Commission approved FINRA Rule 5122 (Member Private Offerings) on March 19, 2009.)
Firms also must file any amendments or exhibits to the offering document with the Corporate Financing Department within ten days of being provided to any investor. The information filed with the Corporate Financing Department is subject to confidential treatment. Firms can submit offering documents via email as PDFs. Firms must include their CRD number for identification purposes as part of their email submission.
