What is the legality of giving priority to specific advisors or institutional investors as an Ibanker?
Say I work in Capital Markets at GS and I have a fraternity brother that I trust and respect who works in Investment Management for Robert W. Baird. I'm working with Exxon on issuing bonds for a project that they're currently financing. I think this is a really good opportunity for lenders and want to give my buddy from RWB the news first so he can use his clients money to purchase the lucrative Exxon bonds.
Is this in the grey area of legality, blatantly illegal or completely fine? I'm strictly wondering out of curiosity as I'm still in school.
I don't know what's more baffling: that you disclosed a pending capital markets transaction and the client or that you are seeking legal advice on a public forum. I would delete your post if I were you.
I made 100% of this transaction up, I'm a student with no job who is just interested in the way these transactions work. I just used GS, Exxon and RWB as examples to make it simpler. Genuinely just interested in what the laws are regarding these types of transactions. I am in no way, shape or form seeking legal advice in the sense that I am planning on doing this or have done this. I'm strictly wondering what the rules are on giving certain investors first dibs.
If my post gives the wrong impression that I am involved with any three of these companies or rather that any three of these companies are involved with someone who is asking this question - I will seek to have it deleted immediately.
Here. https://news.morningstar.com/classroom2/course.asp?docId=5458&page=1&CN… This is a super high level overview on bond issuance. The wording of your question makes me believe you know nothing of how this process works.
Also general rule of thumb. If it's not on public documents or hasn't been officially announced, don't talk about it with the public.
You're right on that I do not know how the process works. Just a noob trying to gather some info. Preciate the link.
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