Series 51: Churning

Taken from our Series 51 Online Guide

Churning

Churning is the practice of excessively buying or selling in a customer’s account to generate additional commissions for the broker. Churning is strictly prohibited. Excessive buying and selling means recommending or executing transactions in a customer account that are excessive in size or frequency, given the customer’s suitability information.

MSRB Rule G-19(e)

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