Regal Syndicate

Learn More About Syndicate Offerings

How to Get Started

Regal Discount customers interested in participating in the Syndicate process will be required to open a new Syndicate account with a separate company, Regal Securities, Inc. Once your Syndicate account has been opened and approved, you will begin to receive information about specific deals. To learn more about getting started, please submit your information below.

Open an Account

If you are prepared to open a Syndicate account today, please click here.


A New Investment Service for Qualified Regal Clients

Equity Syndicate is a new addition to Regal’s diversified mix of products and services. Purchasing Syndicate issues is an investment that can be appealing to both conservative and entrepreneurial clients.

Through established long-term industry relationships and by utilizing expertise in key industry sectors, we are able to deliver Syndicate issues that may be appropriate to your individual needs. Regal’s Syndicate staff has more than thirty years of experience, a deep knowledge of the industry, and extensive institutional relationships. We specialize in initial public and follow-on offerings of primary and secondary shares.

Regal receives invitations to participate in a number of various underwritings however, Regal does not participate in penny stock offerings. All Syndicate products are evaluated via a due diligence process.

What is Syndicate?

Syndicate is the syndication of both initial public offerings and offerings of companies whose securities are already publicly traded (follow on and secondary offerings).

Some of the benefits of Syndicate issues are:

Qualification Criteria

In order to participate in new offerings, client accounts must meet specific requirements. Syndicate offerings are subject to the same principles of client suitability as securities in the trading markets. Each offering which Regal manages will have its own degree of investment risk. Regal clients that are interested in entering an Indication of Interest (IOI) for any new issue must complete new account documents which collect information such as risk tolerance and investment objectives. In order to be eligible for Syndicate issues and open a new Syndicate account, you must have an existing Regal Discount Securities account that meets the following criteria:

Types of Deals

While Regal may, from time to time, participate in high profile new-issue equity offerings (IPOs), most of our Syndicate offerings will be in Closed End Funds. Below you will find a description of each type of new offering.

Initial Public Offerings (IPOs)

An Initial Public Offering is a company’s first offering of stock to the public which may be all primary (new), all secondary (already issued and outstanding), or a combination of primary and secondary.

Secondary or Follow-on Offerings

Offerings of companies whose securities are already publicly traded.

Closed-End Funds

A closed-end fund is an investment company that compiles and manages a portfolio of securities in order to achieve a specific set of investment objectives.

Additionally, Closed End Funds:

The most distinguished risk for Closed-End Funds is “No Prior History” risk. These types of funds are newly organized, non-diversified, closed-end management investment companies with no history of operations and are subject to all of the business risks and uncertainties associated with any new business. Participation in any Closed-End Fund may involve many of the common risks associated with any investment. Therefore each prospectus should be studied in detail with special attention given to the following that are representative of those risk factors – Management, liquidity, valuation, leverage, credit ratings, interest rate, Net Asset Value discount/premium, underlying investments such as Structured Products and derivatives, and inflation/deflation risk among others.


Participation in new issue offerings comes with inherent risks. These risks include, but are not limited to:

Due Diligence

Regal Securities, Inc. Syndicate account holders must conduct their own thorough due diligence prior to being allowed to submit an Indication of Interest (IOI). Regal Securities also recommends that Syndicate participants consult with their legal and tax advisors before making an investment decision. As an important part of the due diligence process, Syndicate participants must acknowledge they have received, read, and understood the Preliminary Prospectus. While Syndicate transactions are considered solicited, Regal will not recommend that you participate in a specific offering.

Preferred Stock

A security that usually pays a fixed dividend and gives the holder a claim on corporate earnings and assets that is superior to that of holders of common stock. Preferred stock combines certain characteristics of common stock with those of bonds. As such, the investor who wishes to reduce the risks inherent in common stock ownership can achieve a stated rate of return while maintaining equity ownership by investing in preferreds. Key points regarding preferred stocks are:

“Restricted Persons”

FINRA rules prohibit "restricted persons" (certain persons associated with the financial services industry) from participating in the purchase of many new issue offerings unless the offering is exempt. Therefore, clients must update this information annually. For more information and to determine whether you qualify to participate in syndicate issues, call 1-800-92-REGAL or click here for more information.

Process & Overview

It is Regal’s objective to deliver quality products and information concerning not only the offerings we manage, but the process itself. There are
various stages in the purchase of Syndicate issues. Our Syndicate FAQs and Glossary of Terms should assist you in understanding the
process from the beginning of the new issue cycle through to the end.

Each offering in which Regal participates will have its own degree of investment risk. Such degree of risk will be communicated to you by the Representative assisting your account.

A preliminary prospectus discloses information on the company’s management, markets, competitors, financial data, etc. The preliminary prospectus (also known as “red herring”) also discloses risk factors, the expected price range and number of shares to be issued. Clients should review the preliminary prospectus prior to entering an indication of interest (IOI).

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. Any issue or recommendation contained in this report may not be suitable for all investors. The information provided is a subject to change. Participation is at your own risk. If you have questions, please contact a Syndicate specialist at 847-375-6084.  Regal Securities Inc. is a member of FINRA/SIPC and clears through Hilltop Securities, Inc.

Information provided is not a solicitation or an offer to buy any of the provided offerings and might not be appropriate for all investors. The information provided is a subject to change. Participation is at your own risk. If you have questions, please contact or consult with a registered customer service representative at 1-800-92-REGAL.