Which of the following statements is FALSE?

a. The lead underwriter is the primary banking firm responsible for managing the deal. The lead underwriter provides most of the advice and arranges for a group of other underwriters, called the syndicate, to help market and sell the issue.

b. Once a company goes public, it must satisfy all of the requirements of public companies.

c. Organizations such as the Securities and Exchange Commission (SEC., the securities exchanges (including the New York Stock Exchange and the NASDAQ), and Congress (through the Sarbanes-Oxley Act of 2002) adopted new standards that focused on more thorough financial disclosure, greater accountability, and more stringent requirements for the board of directors.

d. An "allocation trip" is where senior management and the lead underwriters travel around the country (and sometimes around the world) promoting the company and explaining their rationale for the offer price to the underwriters' largest customersmainly institutional investors such as mutual funds and pension funds.