3.1.2 Selling New Issues at Discounts
Member firms must sell mutual funds and other new issues (initial public offerings) to the public at their public offering price. No sales or discounts can be made to non-FINRA members. This also means that all offers must be made at the security’s stated price and a firm cannot hold “sales” on securities. This also means you can’t promise a discount to a customer for being a good customer.
