002-5 Wyo. Code R. § 5-6
Each agent shall observe high standards of commercial honor and just and equitable principles of trade in conduct of their business. Acts and practices, including but not limited to the following, are considered contrary to such standards and may constitute dishonest or unethical practices as found in W.S. 17-4-106(a)(ii)(G) or other listed grounds for denial, suspension or revocation of registration or such other action authorized by statute.
(a) Engaging in the act of lending or borrowing money or securities from a customer, unless that customer is a member of the agent's "immediate family" as defined in the NASD Free Riding and Withholding interpretation.
(b) Effecting securities transactions not recorded on the regular books or records of the broker-dealer which the agent represents, unless the agent notifies the broker-dealer of the agent's intentions in writing prior to participating in the securities transactions and the securities transactions are authorized in writing by the broker-dealer prior to entering into the transaction.
(c) Establishing or maintaining an account containing fictitious information in order to execute transactions which would otherwise be prohibited.
(d) Sharing directly or indirectly in profits or losses in the account of any customer without the written authorization of the customer and the broker-dealer which the agent represents.
(e) Dividing or otherwise splitting the agent's commissions, profits or other compensation from the purchase or sale of securities with any person not also registered as an agent for the same broker-dealer, or for a broker-dealer under direct or indirect common control.
(f) Inducing trading in a customer's account which is excessive in size or frequency in view of the financial resources and character of the account. Excessive size or frequency may be established by reviewing size of any purchase as a percentage of a client income and/or net worth, turnover rates, cost of trading expressed as a percentage of account equity or other measures of account activity.
(g) Recommending to a customer the purchase, sale or exchange of any security without reasonable grounds to believe that such transaction or recommendation is suitable for the customer based upon reasonable inquiry concerning the customer's investment objectives, financial situation and needs, and any other relevant information known by the agent.
(h) Executing a transaction on behalf of a customer without the customer's authorization.
(i) Exercising any discretionary power in effecting a transaction for a customer's account without first obtaining written discretionary authority from the customer. In addition the account has been accepted by the employing broker-dealer as evidenced in writing by a supervisory person designated by the broker-dealer, unless the discretionary power relates solely to the time and/or price for the execution of orders.
(j) Executing any transaction in a margin account without securing from the customer a properly executed written margin agreement promptly after the initial transaction in the account.
(k) Entering into a transaction with or for a customer at a price not reasonably related to the current market price of the security or receiving an unreasonable commission or profit.
(l) Failing to furnish a customer purchasing securities in an offering, no later than the date of confirmation of the transaction, either a final prospectus or a preliminary prospectus and an additional document, which together include all information set forth in the final prospectus.
(m) Effecting any transaction in, or inducing the purchase or sale of, any security by means of any manipulative, deceptive or fraudulent device, practice, plan program, design or contrivance, which may include but not be limited to:
(n) Guaranteeing a customer against loss in any securities account of such customer carried by the broker-dealer or in any securities transaction effected by the agent with or for such customer.
(o) Publishing or circulating, or causing to be published or circulated, any notice, circular, advertisement, newspaper article, investment service, or communication of any kind which purports to report any transaction as a purchase or sale of any security unless such agent believes that such transaction was a bona fide purchase or sale of such security; or which purports to quote the bid price or asked price for any security, unless such agent believes that such quotation represents a bona fide bid for, or offer of, such security.
(p) Using any advertising or sales presentation in such a fashion as to be deceptive or misleading. An example of such practice would be a distribution of any nonfactual date, material or presentation based on conjecture, unfounded or unrealistic claims or assertions in any brochure, flyer, display by words, pictures, graphs or otherwise designed to supplement, detract from, supersede or defeat the purpose or effect of any prospectus or disclosure.
(q) Engaging in any security transaction, offer of a security, sale of a security or course of conduct which would violate Federal Securities Laws or regulations, rules of any national securities exchange or any registered securities association.
(r) making improper use of a customer's securities or funds. Agents shall adhere to the provisions of SEC Rule 15 c3-3 with respect to obtaining possession and control of securities, and the maintenance of appropriate cash reserves. Agents shall not cause customer money to be commingled with their own or with the money of others in any manner other than in an account specified by their broker-dealer which may receive customer funds.
002-5 Wyo. Code R. § 5-6