3370. Purchases
This rule is no longer applicable. NASD Rule 3370 has been superseded by FINRA Rule 11860. Please consult the appropriate FINRA Rule.
No member or person associated with a member may accept a customer's purchase order for any security unless it has first ascertained that the customer placing the order or its agent agrees to receive securities against payment in an amount equal to any execution, even though such an execution may represent the purchase of only a part of a larger order.
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Amended by SR-NASD-2004-175 eff. Jan. 3, 2005. Amended by SR-NASD-2004-031 eff. April 1, 2004. Amended by SR-NASD-2001-85 eff. April 1, 2004. Amended by SR-NASD-2002-40 eff. Oct. 15, 2002. Amended by SR-NASD-2002-97 eff. July 29, 2002. Amended by SR-NASD-99-37 eff. June 9, 2000. Amended by SR-NASD-2000-46 eff. Aug. 28, 2000. Amended by SR-NASD-95-39 eff. Oct 10, 1996. Amended by SR-NASD-95-62 eff. Feb. 20, 1996. Amended by SR-NASD-95-38 Sept. 18, 1995. Amended by SR-NASD-94-56 eff. June 7, 1995. Amended by SR-NASD-95-02 eff. Jan. 9, 1995. Amended by SR-NASD-94-32 eff. Jan. 9, 1995. Amended by SR-NASD-90-30 eff. July 14, 1993. Amended by SR-NASD-89-5 eff. July 5, 1990. Amended by SR-NASD-87-23 eff. Aug. 3, 1987. Amended by SR-NASD-86-17 eff. Oct. 15, 1986. Amended eff. Sept. 1, 1972, Nov. 15, 1973. Formerly the Interpretation to Article III, Section 1 of the Rules of Fair Practice adopted eff. Sept. 9, 1968. Selected Notices: 85-87, 86-69, 88-47, 90-13, 90-51, 93-53, 94-80, 95-36, 00-28, 04-03, 04-21. |