New Rules to Create Entertainment Guidelines

"The purpose of the rule," an NYSE official told Traders Magazine, "is to prohibit the employees of a broker-dealer from providing entertainment to a client, particularly one who is acting in a fiduciary capacity, that is intended to cause the client to act in a manner inconsistent wi...

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Bibliographic Details
Published in:Traders Magazine 2006-02, p.1
Main Author: Bresiger, Gregory
Format: Magazinearticle
Language:English
Subjects:
Entertainment law
Interpretation and construction
Laws, regulations and rules
Officials and employees
SEC regulations
Securities industry
Stock-exchange
Travel & entertainment expenses
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Summary:"The purpose of the rule," an NYSE official told Traders Magazine, "is to prohibit the employees of a broker-dealer from providing entertainment to a client, particularly one who is acting in a fiduciary capacity, that is intended to cause the client to act in a manner inconsistent with the best interests of his or her employer or customer." Grace Vogel, executive vice president of NYSE Regulation's division of Member Firm Regulation, also said the Big Board is acting now because it has received many questions over the past few months on what should be an appropriate entertainment policy.
ISSN:0894-7295