Monday, July 18, 2005
Clarification of the exception in Rule 2311 (b)(2) "An occasional meal, a ticket to a sporting event or the theater, or comparable entertainment..."
There is an Interpretive Letter dated 06/10/1999 to a Director and VP of T Rowe Price where this is addressed. It states in this Interpretive Letter that If a person associated with a member is not personally hosting the business entertainment, than it would fall under Rule 3060.
If this is a correct interpretation of the rule, then would the NASD incorporate this into the new rule 2311 to make it clearer.
United Securities Alliance, Inc.
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