Series 79: Confidential Information Memorandum (CIM)

Taken from our FINRA Investment Banking Exam

Definition of the term Confidential Information Memorandum (CIM)...

in an M&A transaction, a marketing document shared with prospective buyers only after they have signed a confidentiality agreement. It contains detailed, confidential information about the target. Sometimes called the descriptive memorandum, detailed memorandum, or just the book.

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