Series 28: Restrictions On Customer Gifts And Gratuities

Restrictions on Customer Gifts and Gratuities

No member firm or associated person may give or receive any gift or gratuity having a value over $100 per person per year if the gift is related to the business provided. This restriction may be waived, but not without a prior written agreement between the associated person and the member firm. This written agreement must identify the nature of the proposed arrangement and the value of the proposed compensation and must include the written consent of the other party’s employer or principal.

This restriction does not extend to personal gifts, such as wedding presents, or to promotional items of minimal value, such as pens or calendars displaying the firm’s logo.

A separate record must be kept by the member firm of all gifts and gratuities, whatever the amount, of the associated written agreement, and of any payment made to the associated person for the