10.10.6.4 Backing Away
A related violation is when a broker-dealer offers to buy or sell a security at a particular price with no intention of actually buying or selling the security at that price. For example, if a broker-dealer gives a quote of $30.25 – $30.50, it needs to be willing to buy the security at $30.25 and sell it at $30.50. Not honoring quotes is called backing away.