SEC Rule 415: The Ultimate Competitive Bid
研究美国证券交易委员会1982年实施的415号规则，该规则允许公司提前注册未来两年内计划发行的所有证券，并灵活选择出售时机，旨在简化注册流程并增加承销灵活性。
Controversy surrounds the Securities and Exchange Commission's (SEC) Rule 415 that went into effect in March 1982 and remained an experiment until it was permanenty adopted for large firms in November 1983. Rule 415allows a company to register all the securities it plans to issue over the next two years and then to sell someor all of the securities whenever it chooses. This procedure is known as a shelf registration. The purposes of Rule 415 are to simplify the registration of new corporate securities and to allow more flexibility in the way issues are underwritten.