Practice Quiz

FINRA Series 7

Category - Series 7

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In the distribution of a new issue underwriters or selling group member are prohibited from:
  1. selling to the public at the so-called public offering price
  2. selling to another broker or dealer who needs to fill an accommodation order
  3. withholding blocks of a new issue in the member’s account
  4. all of the above
Explanation
Answer: C - withholding blocks of a new issue in the member’s account. Underwriters and selling group members are prohibited from keeping blocks of a new issue for their own accounts.
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