Series 82: Communications That Include A Recommendation

Communications that Include a Recommendation

Any retail communications that contain recommendations must disclose certain conflicts of interest. Specifically, the communication must disclose whether the firm makes a market in the recommended security or, if the recommendation is for an option, whether the firm makes a market in the underlying security. The communication must also disclose whether the firm was a manager or co-manager on an offering of any securities by the issuer of the recommended security. The communication must also disclose whether the firm or any associated person who is responsible for the content has a financial interest in any of the securities of the issuer of the security.

Retail communicat