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
Reiterating what another commenter said: “ 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
Please don't add burdensome regulations. Informed investors are capable of making intelligent investments after weighing the risks. Uninformed investors will soon learn the hard way why they should avoid risky investments they don't really understand and will be better for the lesson.
Crypto shouldnt need any more information gathering than other current investments. There are no requirements for stocks, bonds, ETFs, so why should there be another asset class. Just because its unfamiliar doesnt mean it should be treated differently.
Do not limit my ability to purchase leveraged and inverse funds. You have done nothing to stop senators and congresspeople from purchasing or selling stocks when they have inside information, so DO NOT limit the rest of us. This would be ridiculous.
Short interest needs to be reported everyday, just like volume and institutional holdings this is vital information to prevent over shorting a stock or non compliant behavior that limits price discovery and normal market dynamics.
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 Management
Legal & Compliance
Executive Summary
On August 7, 1997, the Securities and Exchange Commission (SEC) approved amendments to the National Association of Securities Dealers, Inc. (NASD®) Code of Procedure setting forth, among other things, general procedures for
Current FINRA members seeking to change ownership, control, or business operations must submit a continuing member application, or Form CMA. Form BD amendments may be required for some of these Form CMA-triggering events.On This PageWhen to File a CMAWhat to include in a CMARemoval or Modification of a Restriction on a Membership AgreementAfter Filing a CMAWhen to File a CMAWhen current FINRA
Inverse funds are part of an important strategy for ordinary people to hedge against bear market conditions, an environment where ordinary people have very little option for protection. Do not take this option away from well educated and well informed investors.
