An Underwriter buys securities from the issuer and sells them privately or to the public. To diversify

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Question:

An Underwriter buys securities from the issuer and sells them privately or to the public. To diversify the risk of buying the securities and not being able to sell them, the underwriting firm can share the deal with others. Would the group that shares the risk be called:

a) The lead underwriter

b) The selling group

c) The syndicate

d) The customers M