"FINRA's IPO purchase restrictions that prohibit industry personnel from buying new issues in the primary market apply to:"

Common stock offerings.

Explanation:

FINRA is an acronym for Financial Industry Regulatory Authority. It is a non-profit agency in the United States of America, that is saddled with the responsibility of handling the licensing and regulation of broker-dealers in securities.

FINRA's initial public offering (IPO) purchase restrictions that prohibit industry personnel from buying new issues in the primary market apply to common stock offerings. The rule made by the financial industry regulatory authority (FINRA) which restrict a registered firm and its employees from buying new issues in the primary market made available by underwriters, only apply to common stock offerings (equity stocks) because the pricing of common stocks usually has a big expectation feature that is typically difficult to measure.

Additionally, the FINRA's purchase restrictions do not apply to bond or preferred stock offerings.

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