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The issuer has no price risk in a firm commitment offering once the offer price is set.
The lax oversight by government regulatory agencies and private debt rating agencies
helped contribute to the severity of the 2007-2009 financial crisis.
The essential requirements of a well-functioning financial system include an efficient
national payments system, a flexible money supply, and a lending/borrowing
mechanism to help alleviate liquidity problems when they arise.
Insider trading regulation is provided for under the Securities Exchange Act of 1934.
The Federal Reserve has no power to regulate the overseas activities of member banks
and bank holding companies.
