"Gambling is a criminal offense in New York and also a violation of NYSE and NYSE Amex Rules and Policies when a person, in a capacity other than as a participant or “player,” operates, promotes or advances a gambling enterprise or activity with the agreement or understanding that they will receive money, property or otherwise share in the proceeds of the gambling activity pursuant to the agreement or understanding." 

NYSE Regulation issued the above reminder to members and their employees on January 26, in IM 11-04, NYSE GAMBLING POLICY.  That was on the "eve" of the Super Bowl.  Now it's March Madness with the NCAA Basketball Tourney starting Thursday.  [C-I Note:  Who needs football when the college kids take center stage.]  

So, Compliance Insights offers a reprint, as a public service announcement.  You'll find it after the jump, unless you want to access the real thing.  If so, go to:  [NYSE Regulation's Market Surveillance Div.m IM 11-04, 1/26]

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Number     11-04     01/26/2011
TO:      ALL FLOOR MEMBERS, MEMBER ORGANIZATIONS AND TRADING FLOOR PERSONNEL
SUBJECT:      NYSE GAMBLING POLICY

The following serves as a reminder to New York Stock Exchange, LLC (“NYSE”) and NYSE Amex LLC (“NYSE Amex”) members, member organizations and employees subject to their supervision that promoting or participating in certain gambling activities on the Trading Floor or other premises under NYSE control is strictly prohibited by the Floor Conduct and Safety Guidelines and NYSE and NYSE Amex Rules, including but not limited to Rule 476(a)(7) (“NYSE and NYSE Amex Rules and Policies”).

Gambling is a criminal offense in New York and also a violation of NYSE and NYSE Amex Rules and Policies when a person, in a capacity other than as a participant or “player,” operates, promotes or advances a gambling enterprise or activity with the agreement or understanding that they will receive money, property or otherwise share in the proceeds of the gambling activity pursuant to the agreement or understanding.

Any remuneration or payment, including tips or gratuities to the individual advancing or promoting the gambling activity made pursuant to any custom or practice, can constitute an agreement or understanding to participate in the proceeds of gambling activity. For example, a sporting event pool where the participants purchase participation in the pool and each of the persons who win pay the person who organizes and promotes the pool an amount of money equal to a percentage of their winnings would be criminal and violate NYSE and NYSE Amex Rules and Policies. Other examples of prohibited gambling activity include schemes such as bookmaking, numbers games, or other organized for-profit betting activity relating to sporting activities, other outside events or games of chance.

Telephones, computers, or other communications devices or business equipment located on the Trading Floor or other premises under NYSE control may not be used for any prohibited gambling activities. Further, the display or visible possession of gambling devices such as pool boxes, betting slips, etc. used in any gambling activity is also strictly prohibited on the Floor or other premises under NYSE control.

Members and member organizations are reminded that the NYSE’s Floor Conduct and Safety Guidelines require that all persons, while on the Floor or on other premises under NYSE control, refrain from engaging in any act or practice that may be detrimental to the interest or welfare of the NYSE.

If you have any questions about whether a particular activity is prohibited, you should consult with your firm’s compliance officer, senior manager, and/or legal counsel.

Questions about this policy or complaints about potential violations should be directed to:

Patricia M Bergholc, Director, FINRA Market Regulation, 917.281.3054, patricia.bergholc@finra.org;

Clare Saperstein, Vice President, NYSE Regulation, Inc., 212.656.2355, csaperstein@nyx.com; or

David De Gregorio, Chief Counsel, NYSE Regulation, Inc., 212.656.4166, ddegregorio@nyx.com.

Questions may also be directed to the On-Floor Surveillance Unit via the White Phone or in person at the On-Floor Surveillance Unit Booth on the Floor.
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NYSE Regulation, Inc.