When must the final syndicate settlement occur?

The final syndicate settlement must occur within 90 days following the syndicate settlement of the offering. This is a crucial timeframe that allows for the syndicate members to finalize the distribution of the securities, calculate the financial obligations to be settled, and ensure all participants in the underwriting process receive their respective shares of the profits or losses associated with the offering.

Understanding this timeline is important because it ensures that all transactional activities are reconciled and that the underwriting members are held accountable for their roles in the process within a structured period. This helps maintain market integrity and ensures that participants can manage their financial expectations accurately, knowing when they will see the final results of their underwriting efforts. Other options may reflect different timeframes, but the correct understanding is that 90 days provides an adequate period for proper settlement activities to take place following the initial syndicate agreements.