It's important for these markets to be driven by real people. As lay investors, we have a right to form our own informed opinion of risk and benefit when investing; we don't need regulators to stop us just because they think a product is too risky.
The proposed amendment to FINRA 4560 is a laughable attempt at improving naked short selling internal control measures, actual regulatory action, or really any kind of further obligation on the part of the involved broker-dealers. There have been hundreds if not thousands of regulatory "actions" taken by FINRA related to short sale, and misreporting/misclassification of shorts. This
SUGGESTED ROUTING*
Senior ManagementLegal & ComplianceTrading
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EXECUTIVE SUMMARY
On May 1, 1990, the SEC approved an amendment to Schedule H of the NASD By-Laws to require member firms to file specified information with the NASD before initiating (or resuming) a quotation of a non-NASDAQ over-the-
I am opposed to changes in my ability to invest in inverse or leveraged securities, because it is an important part of my investment work. I am very well informed about all of this, and these proposed changes would cost me a lot of money. I will take you to court if necessary.
Frequently asked questions about public offerings
FINRA Rule 4230(a) requires clearing firms for which FINRA is the designated examining authority pursuant to SEA Rule 17d-1 to submit requests for extensions of time as contemplated by Regulation T of the Board of Governors of the Federal Reserve System (Regulation T) and SEA Rule 15c3-3(n) to FINRA for approval.
Q1. My firm has been granted an exemption from both the recording and reporting requirements of the OATS Rules and does not currently have an obligation to report to OATS. Does my firm’s OATS exemption extend to the Consolidated Audit Trail (“CAT”) recording and reporting requirements?
A1. No. Neither SEC Rule 613 nor the CAT NMS Plan provide exemptive relief to any class of broker-dealers. As
I should be my responsibility to select the type of product I am interested to buy and to accept responsibility for the choice. Many individual stocks are even more risky. Do not take another freedom of choice. Make sure relevant information is provided and available but leave the decision up to the individuals.
Information about a product you invest in is incredibly important, and I think ensuring brokerages are properly informing retail investors about the risks of the product they are investing in would benefit everyone involved. However, I find the proposed regulations of forcing those holding leveraged products to sell at the end of every day and limiting capping profits/losses of a leveraged
