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Immediate Family

What is an 'Immediate Family'

Immediate family members usually include a person’s parents, spouse, children and siblings. A person’s grandparents, grandchildren, in-laws and domestic partners sometimes are included in the immediate family unit, depending on which law or organization governs the determination. The definition of immediate family affects whether a person can use paid or unpaid leave to care for a sick family member or attend a funeral, and it also restricts some financial transactions, especially those involving the stock market.

Explaining 'Immediate Family'

An example of how the designation of immediate family affects the stock market is that the Financial Industry Regulatory Authority (FINRA), formerly the NASD, prohibits the sale of hot issues to immediate family members, as stated in the Rules of Fair Practice. Additionally, rules governing a person's immediate family are noted in FINRA's concepts of withholding and free-riding.

Which Family Members Are Covered Under FMLA?

The FMLA has a fairly strict definition of which relatives are included in your immediate family. The law defines immediate family members as spouses, parents and minor children, including adopted and foster children who are newly placed into the family. In-law parents aren’t included in the definition, even when those individuals live with the employee. While children are included in the definition of immediate family, they must be under age 18 or unable to care for themselves.

Examples of Stock Sales That Are Prohibited for Immediate Family

To prevent stock manipulation, the FINRA prohibits the sale of new-issue stock to the immediate family of the brokers who sell the stock. In addition, when a company goes public, the immediate family members of the company owners cannot purchase the initial offering. The FINRA has a broad definition of immediate family that includes all in-laws and anyone who relies on the person for material support.


Further Reading


Time, passage, and immediate experience
www.oxfordhandbooks.com [PDF]
… Law; Greek and Roman Papyrology; Marriage and the Family; Material Culture … and Quantitative Methods; Economic Development; Economic History; Economic Theory and … Environmental, Agricultural, and Natural Resources Economics; Financial Economics; Health, Education …

Guestworker migration, remittances and the extended family: evidence from PakistanGuestworker migration, remittances and the extended family: evidence from Pakistan
www.sciencedirect.com [PDF]
… Law; Greek and Roman Papyrology; Marriage and the Family; Material Culture … and Quantitative Methods; Economic Development; Economic History; Economic Theory and … Environmental, Agricultural, and Natural Resources Economics; Financial Economics; Health, Education …

SME financing in the UK and in China: a comparative perspectiveSME financing in the UK and in China: a comparative perspective
www.emerald.com [PDF]
… Law; Greek and Roman Papyrology; Marriage and the Family; Material Culture … and Quantitative Methods; Economic Development; Economic History; Economic Theory and … Environmental, Agricultural, and Natural Resources Economics; Financial Economics; Health, Education …

Corporate governance and financial distress: Evidence from TaiwanCorporate governance and financial distress: Evidence from Taiwan
onlinelibrary.wiley.com [PDF]
… Law; Greek and Roman Papyrology; Marriage and the Family; Material Culture … and Quantitative Methods; Economic Development; Economic History; Economic Theory and … Environmental, Agricultural, and Natural Resources Economics; Financial Economics; Health, Education …

Management succession and financial performance of family controlled firmsManagement succession and financial performance of family controlled firms
www.sciencedirect.com [PDF]
… Law; Greek and Roman Papyrology; Marriage and the Family; Material Culture … and Quantitative Methods; Economic Development; Economic History; Economic Theory and … Environmental, Agricultural, and Natural Resources Economics; Financial Economics; Health, Education …

Economic crisis and social protection in the European Union: Moving beyond immediate responsesEconomic crisis and social protection in the European Union: Moving beyond immediate responses
onlinelibrary.wiley.com [PDF]
… Law; Greek and Roman Papyrology; Marriage and the Family; Material Culture … and Quantitative Methods; Economic Development; Economic History; Economic Theory and … Environmental, Agricultural, and Natural Resources Economics; Financial Economics; Health, Education …

The coupling of ownership and control and the allocation of financial resources: evidence from Hong KongThe coupling of ownership and control and the allocation of financial resources: evidence from Hong Kong
onlinelibrary.wiley.com [PDF]
… Law; Greek and Roman Papyrology; Marriage and the Family; Material Culture … and Quantitative Methods; Economic Development; Economic History; Economic Theory and … Environmental, Agricultural, and Natural Resources Economics; Financial Economics; Health, Education …

Applying a stochastic financial planning system to an individual: Immediate or deferred life annuities?Applying a stochastic financial planning system to an individual: Immediate or deferred life annuities?
jor.pm-research.com [PDF]
… Law; Greek and Roman Papyrology; Marriage and the Family; Material Culture … and Quantitative Methods; Economic Development; Economic History; Economic Theory and … Environmental, Agricultural, and Natural Resources Economics; Financial Economics; Health, Education …

Family business groups around the world: Financing advantages, control motivations, and organizational choicesFamily business groups around the world: Financing advantages, control motivations, and organizational choices
academic.oup.com [PDF]
… Law; Greek and Roman Papyrology; Marriage and the Family; Material Culture … and Quantitative Methods; Economic Development; Economic History; Economic Theory and … Environmental, Agricultural, and Natural Resources Economics; Financial Economics; Health, Education …


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