What Is A Restricted Person? Restricted Person means a person that is (i) listed on, or owned or controlled by a person listed on any Sanctions List; (ii) located in, incorporated under the laws of, or owned or controlled by, or acting on behalf of, a person located in or organised under the laws of
Who Is A Restricted Person Under Finra Rule 5130? For purposes of these rules a “restricted person” as the term is used this this alert, includes the following: (1) broker‐dealers; (2) broker-dealer personnel; (3) finders and fiduciaries; (4) portfolio managers; and (5) persons owning a broker‐dealer and (6) in certain cases persons materially supported by
What Finra 5131? Rule 5131 restricts (so called “spinning”) brokers from selling new issues to accounts that are beneficially owned by persons that are executive officers or directors of public companies having specified relationships with the broker-dealer (and persons materially supported by such persons) (“Covered Persons”). What is a 5131 covered person? Rule 5131 restricts
What Is A 5130? Background. FINRA Rule 5130 generally restricts, among other things, broker-dealers (or persons associated with them) from selling shares of a new issue, to an account in which a restricted person has a beneficial interest. Can a restricted person buy an IPO? More information on this can be found on the FINRA