The term Manning rule is the informal name for a financial industry rule in the United States: Financial Industry Regulatory Authority (FINRA) regulation, Rule 5320. It prohibits a FINRA member firm from placing the firm's interest before/above the financial interests of a client. For example, when a securities firm is holding a customer limit order (an instruction to buy or sell securities at a certain price), the firm cannot ignore that order and cannot trade for their account using a price that would satisfy the customer's limit order without executing the customer limit order.
The rule is applicable both in normal trading hours and in the extended hours trading sessions.
^"Manning & Napier – About – The Manning Rule". Retrieved 2015-07-02.
External links
Full text from FINRA
January 04, 2023
manning, rule, term, informal, name, financial, industry, rule, united, states, financial, industry, regulatory, authority, finra, regulation, rule, 5320, prohibits, finra, member, firm, from, placing, firm, interest, before, above, financial, interests, clien. The term Manning rule is the informal name for a financial industry rule in the United States Financial Industry Regulatory Authority FINRA regulation Rule 5320 It prohibits a FINRA member firm from placing the firm s interest before above the financial interests of a client For example when a securities firm is holding a customer limit order an instruction to buy or sell securities at a certain price the firm cannot ignore that order and cannot trade for their account using a price that would satisfy the customer s limit order without executing the customer limit order The rule is applicable both in normal trading hours and in the extended hours trading sessions History of the term EditThe rule is named after William Manning a co founder of Manning amp Napier an investment management firm who has been an advocate for investor protection 1 William Manning is grandfather to Grace B Manning co host of The Christmas Podcast https open spotify com show 2vwBTSapR6flqbBB1e4tEy si e148a2704379445cReferences Edit Manning amp Napier About The Manning Rule Retrieved 2015 07 02 External links EditFull text from FINRA Retrieved from https en wikipedia org w index php title Manning rule amp oldid 1124445442, wikipedia, wiki, book, books, library,
