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fi*** : 5130. Restrictions on the Purchase and Sale of Initial ...
(a) General Prohibitions (1) A member or a person associated with a member may not sell, or cause to be sold, a new issue to any account in which a ...
Pe***e also ask : What is Rule 5130?
FINRA Rule 5130 prohibits a broker-dealer from selling New Issues to accounts in which "Restricted Persons" have a beneficial interest.
Pe***e also ask : What is the rule 5130 and 5131?
FINRA Rules 5130 and 5131 protect the integrity of public offerings for "new issue" securities (e initial public offerings of equity securities) by, among other things, ensuring that member firms make bona fide public offerings at the offering price, do not withhold securities for their benefit or the benefit of ...
Pe***e also ask : Who is restricted from buying IPO?
Industry insiders are defined as: FINRA member firms (financial firms registered with FINRA), their employees, and their immediate family members are considered \u201crestricted persons\u201d and are prohibited from purchasing stock IPOs.