SIE: Restrictions On Customer Gifts And Gratuities

Restrictions on Customer Gifts and Gratuities

No member firm or associated person may give or receive any gift or gratuity having a value in excess of $100 per person per year, if the gift is related to the business provided. This restriction may be waived, but not without a prior written agreement between the associated person and the member firm. This written agreement must identify the nature of the proposed arrangement and the value of the proposed compensation, and it must include the written consent of the other party’s employer or principal.

This restriction does not extend to personal gifts (such as wedding presents) or to promotional items of minimal value (such as pens or calendars displaying the firm’s logo). Christmas gifts and gifts paid for by the firm are not considered personal gifts.

Tickets to an event where the representative accompanies the client are considered “business entertainmen