A syndicate member can back out of the deal during the cooling off period. This usually happens if market conditions turn negative for the new issue. The other 3 answers are true.

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All of the following are true of the syndicate when bringing a new equity security to the market EXCEPT

They cannot back out of the underwriting agreement during the cooling off period.

They take some of the financial burden off of the lead underwriter.

They are responsible for selling some of the securities to the public.

The can sell their entire allotment of the new issue.