Bubba has been classified as a restricted person according to Rule 2790.

FINRA Series-7 Question Answer

Bubba has been classified as a restricted person according to Rule 2790. He may purchase equity securities of an IPO except:

to purchase securities to avoid dilution

when the new issue of securities is purchased pursuant to a stand-by agreement

when the transaction is exempt by an order of the FINRA

when the new issue of securities is purchased pursuant to a best effort basis

Series-7 PDF/Engine

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