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Simple English definitions for legal terms

due-diligence information

Read a random definition: in facto

A quick definition of due-diligence information:

Due-diligence information: Information that a broker-dealer must have and share with potential customers before providing quotes for over-the-counter securities. This is required by SEC Rule 15c2-11.

A more thorough explanation:

Definition: Due-diligence information refers to the information that a broker-dealer must have on file and provide to potential customers before submitting quotations for over-the-counter securities. This information is required by the Securities and Exchange Commission (SEC) Rule 15c2-11 (17 CFR § 240.15c2-11).

Example: Let's say you are interested in purchasing shares of a company that is not listed on a major stock exchange. Before a broker-dealer can provide you with a quote for these shares, they must have certain information on file and make it available to you. This information may include financial statements, business plans, and other relevant documents that can help you make an informed investment decision.

Explanation: The example illustrates how due-diligence information is necessary to protect investors from fraudulent or misleading securities. By requiring broker-dealers to have certain information on file and make it available to potential customers, the SEC aims to ensure that investors have access to accurate and reliable information before making investment decisions.

due day | due influence

General

General chat about the legal profession.

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WelfareIsACat

11:44

what are we hoping for today?

m10

11:44

Nothing. No news is good news for me.

xxRushWaysxx

11:44

Crickets coming from my status update

babycat

11:45

dk are we gonna go to a homoerotic law school together?

EvolBunny

11:45

@m10: at undergrad froshers: https://www.youtube.com/watch?v=6YEarMyIAzs

m10

11:46

@EvolBunny: God damn, classic Randy.

babycat

11:48

Going to law school with you is even more fun than going to San Sebastian, Irún, Hendaye, Biarritz, Bayonne or being sick to my stomach on the Travesera de Gracia in Barcelona partly because in your orange shirt you look like a better happier St. Sebastian partly because of my love for you, partly because of your love for yoghurt partly because of the fluorescent orange tulips around the birches partly because of the secrecy our smiles take on before people and statuary

m10

11:49

Man, there is this girl I visit every month at this one restaurant who I used to go skinny dipping with naked like @ararara always talked about in San Diego. We randomly reconnected like two months ago at this place she works at and we talk a lot about John Steinbeck books. If I don't visit her this month, she might be sad. However, this is my first day not sick and I worry about getting her sick and I am broke. What should I do LSD?

m10

11:49

Thanks @babycat that means a lot!

m10

11:50

Glad we can both be content at Scalia law. One of my favorites.

KnowledgeableRitzyWasp

11:50

you can ask her if she wants to risk getting sick

Eggan

11:50

hi lsd

m10

11:50

I dont have her number or any social media. This is one of those regular kinda things in restaurant and bar culture.

Eggan

11:50

berk td is unlikely so BERK MONDAY :eyes:

KnowledgeableRitzyWasp

11:51

hi eggan :)

babycat

11:52

@m10: I’m not going to DC this isn’t going to work out

info-man

11:55

hello all

KnowledgeableRitzyWasp

11:55

hello info man

KnowledgeableRitzyWasp

11:55

@m10: go see her it's worth the risk

info-man

11:55

hey wasp

babycat

11:56

hi information man

m10

11:56

Thanks wasp, I will.

info-man

11:56

hey babycat

m10

11:56

@babycat: What I am referencing earlier with the balls comment. https://youtu.be/qjRBAhWPT7g?si=MxPwIM12dco_Ad2M&t=3325

BulbasaurNoLikeCardio

11:56

Not worth the risk. Get a girl sick and she will remind you forever. Tell her whats up but do not share germs

m10

11:56

was*

JumpySubsequentDolphin

11:57

wear a mask

JumpySubsequentDolphin

11:57

go back to Covid days

m10

11:58

Nah nah she would not like that. She is conservative.

BulbasaurNoLikeCardio

11:58

Tell her you just got over a cold and if she wants to try and steal your germs its on her but no one likes being sick so hopefully she is chill

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