ECM lawyer, “What is the first thing you learn?”
- By : Wong Mei Ying
- Category : Equity capital markets (ECM), Linkedin Post, Regulatory
We hear it all the time.
Lawyers always look for what may go wrong.
It’s probably how we are trained.
Ask any IPO lawyer or ECM lawyer, “What is the first thing you learn?”
The answer is probably something along the following line:
All information in prospectus/ circular/ submission to the authorities must be true, not misleading and must not contain any material omission.
What is the penalty for contravention of the above?
Imprisonment not exceeding 10 years and a fine not exceeding RM3 million.
Or imprisonment not exceeding 10 years or a fine not exceeding RM3 million or both.
Depending on which section of the Capital Markets and Services Act 2007 is breached.
The penalties may be imposed on the companies undertaking the IPOs or ECM transactions and their advisers.
Enough to scare a first-year lawyer.
IPO lawyers and ECM lawyers are trained to look out for issues so that the issues could be rectified early and do not delay the IPOs or ECM transactions.
Lawyers always look for what may go wrong. Not always a bad thing.
#malaysiancorporatelawyer
#equitycapitalmarkets
#IPOs
#CMSA
This post was first posted on Linkedin on 3 September 2021.
