Series 65: Describing A Price As “At The Market” If It Is Not

Describing a Price as “At the Market” if It Is Not

Further, broker-dealers are prohibited from actually using the term “at the market” to describe a security’s price, unless they reasonably believe that an active market for that security exists outside of their firm. In other words, if the only firm that buys or sells a security is the client’s firm, it would be unethical for them to say that the security is being sold “at the market” price.