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An RR sold shares of new stock issue of ABC Corp. to a customer at $20 per share. After a week, ABC is selling at $10. The RR offers to buy the shares from the customer at $20. Which is correct?

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eooyibo123

Answer:

It is a violation of NASD rules against guaranteeing a customer against loss.

Explanation:

In this case the RR is guaranteeing the customer against loss. The customer initially bought the shares for $20 the new price is $10. The RR now coming in to buy the shares above market value is a way to guarantee the customer against loss, and its a NASD violation.

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