NASD are you saying I can take my client to Maui and call it entertainment? Serious question. Goldman took a shared client to the Masters a few years ago. I always wondered how that was legal.

(before everyone piles on for taking advice on a message board I don't take anything as gospel on here but looking for a little insight on this topic)

Think about it.  Entertainment is the lifeblood of the industry, and how much entertaining can you do for $100?

As with anything you do you should check it out, but there are no NASD rules that say you must not spend more than "X" dollars on entertainment.

The definition of entertainment specifies that the party doing the entertaining must be present at the time the entertainment is provided.

So, unless your firm says no you will not violate NASD rules by spending a ton of money on a client as long as you tag along.

If your firm says no and you do it anyway the ignoring of your firm becomes a violation of the NASD rules.

newbie,

What is the largest "entertainment" expense that one of your many firms has permitted you to pay for?

Once I picked up a $20,000+ cocktails/dinner/wine tab for about 75 branch managers and wives---oops, branch mangers and spouses.

The really outrageous stuff occurs in the IB area--they're prone to holding their due diligence meetings in places that are not free.

Is that entertainment, or just holding a meeting in a very expensive place?

In what capacity did you pickup the tab?

[quote=compliancejerk]

In what capacity did you pickup the tab?

[/quote]

The guy who was expected to pick up the tab.

wholesaler, stock promoter, underwriter or just a big swinging appendage?

NASD:

 <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

You picked up the tab for your employees and colleagues.  There are no specifications about that..

Basically, it is common for brokers to bend the annual $100 rule when it comes to clientele appreciation?? 

[quote=Shmer33]

NASD:

 <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

You picked up the tab for your employees and colleagues.  There are no specifications about that..

Basically, it is common for brokers to bend the annual $100 rule when it comes to clientele appreciation?? 

[/quote]

Don't you dare give a client something that cost you more than $100.

You never know who is looking over your shoulder.

Save money on gifts for family--make them into accounts then cite the rule.

Have you ever known somebody who complained to somebody else's boss because their holiday gift cost too much money?

What you really need to worry about is if the limit includes sales tax.

[quote=compliancejerk]wholesaler, stock promoter, underwriter or just a big swinging appendage?[/quote]

you're a lonely old man whose family has deserted him (hence the dressed up pooch). You're probably dissed by them as much as you are here .... small wonder.

[quote=compliancejerk]

you're a lonely old man whose family has deserted him (hence the dressed up pooch). You're probably dissed by them as much as you are here .... small wonder.

[/quote]

Nah, I've been married for thirty six years to the most supportive wife in the world.

How about you, ever married?

[quote=NASD Newbie]

Once I picked up a $20,000+ cocktails/dinner/wine tab for about 75 branch managers and wives---oops, branch mangers and spouses.

The really outrageous stuff occurs in the IB area--they're prone to holding their due diligence meetings in places that are not free.

Is that entertainment, or just holding a meeting in a very expensive place?

[/quote]

It takes one pathetic lose to lie on a message board about spending someone else's money.

[quote=xmsbroker][quote=NASD Newbie]

Once I picked up a $20,000+ cocktails/dinner/wine tab for about 75 branch managers and wives---oops, branch mangers and spouses.

The really outrageous stuff occurs in the IB area--they're prone to holding their due diligence meetings in places that are not free.

Is that entertainment, or just holding a meeting in a very expensive place?

[/quote]

It takes one pathetic lose to lie on a message board about spending someone else's money.

[/quote]

Nah, it was at Mortons in Palm Springs--ever been there?

actually i have

[quote=xmsbroker]actually i have[/quote]

It's a great place, don't you think.  Do you think it's location is convenient?

very convenient for a fictitious story.

[quote=xmsbroker]very convenient for a fictitious story.[/quote]

What you don't think thirty five branch managers would have gathered with their spouses in Palm Springs?  That seems beyond belief to you?

I don’t think theres a Mortons in Palm Springs.  I don’t think the average bill per person would be ~$300.  I sure as hell dont think you would be in charge to pay for it.  The fact that you flaunt it in a thread that has nothing to do w/ corporate perks for worker bees is all the funnier.

[quote=NASD Newbie]

[quote=xmsbroker]very convenient for a fictitious story.[/quote]

What you don't think thirty five branch managers would have gathered with their spouses in Palm Springs?  That seems beyond belief to you?