As such, investment bankers are required to abide by their firm's stipulated code of conduct and will generally sign a confidentiality agreement, given the sensitive nature of the information they receive.
In September of 1787, it was sent to the states for ratification. Nine of the 13 states would have to ratify it for the Constitution to become effective for those ratifying states. The future was not certain at allâa debate began among the states over ratification.
In February 1788, a compromise was reached under which Massachusetts and other states would agree to ratify the document with the assurance that amendments would be immediately proposed. The Constitution was thus narrowly ratified in Massachusetts, followed by Maryland and South Carolina. On June 21, 1788, New Hampshire became the ninth state to ratify the document, and it was subsequently agreed that government under the U.S. Constitution would begin on March 4, 1789. In June, Virginia ratified the Constitution, followed by New York in July. On September 25, 1789, the first Congress of the United States adopted 12 amendments to the U.S. Constitutionâthe Bill of Rightsâand sent them to the states for ratification.