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The lead investment banker: is elected by members of the syndicate is appointed by the SEC...

The lead investment banker:

is elected by members of the syndicate
is appointed by the SEC
originates and handles a flotation
cannot participate in future offerings by the issuing company
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Answer #1

It's "Originiates and handles a flotation"

Explanation: The investment bank is chosen to originate and handle flotation are being called as lead bankers.

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