Gifts and Gratuities
Chapters in this video
- 0:00 The $400 gold stapler: a principal's dilemma
- 1:30 The $300 limit and the March 30, 2026 effective date
- 3:38 Aggregation: Riley's five AP workaround fails
- 4:15 Attendance transforms gifts into business entertainment
- 4:47 Personal gift carve-out: the wedding gift trap
- 5:39 Recordkeeping: value, recipient, and business purpose
- 6:21 Overlapping stricter rules: MSRB, SEC, and DOL
- 7:47 Rapid-fire exam recap
What this video covers
- Why the FINRA gift limit is $300 per person per year, and when the old $100 limit still applies on pre-March 30, 2026 fact patterns
- How aggregation across the member firm and all associated persons (APs) works, and why multiple small gifts to one recipient can still breach the cap
- What transforms a prohibited gift into permitted business entertainment: the representative's physical attendance with the recipient
- When personal-gift carve-outs apply for weddings, births, and bereavement, and why the nature of the relationship determines whether the carve-out survives
- The three required elements of the separate gift record: value, recipient name and employer, and business purpose
- Why the FINRA gift limit is a floor, not a ceiling, and which stricter regimes override it for municipal officials, ERISA plan fiduciaries, and public pension officials
- How to identify the correct regulator's rule (MSRB pay-to-play, SEC investment adviser pay-to-play, or DOL Employee Retirement Income Security Act (ERISA) restrictions) when a fact pattern involves a specialized recipient
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete Series 24 course also includes adaptive practice questions and spaced-repetition flashcards, free through the end of 2026.