Revised Master Agreement Among Underwriters (MAAU) – December 20, 2022

The agreement was last revised on December 20, 2022 to reflect the amendments to FINRA Rule 11880 for public offerings of “corporate debt securities,” and the revisions were made in Section 9.2. Based on Rule 11880’s announced effective date and related FINRA guidance, the effective date of the revised model MAAU will be for offerings that commence on or after January 1, 2023.