Maureen A. DelaneyChief Hearing Officer and Senior Vice PresidentFinancial Industry Regulatory AuthorityMaureen Delaney is the Chief Hearing Officer at FINRA. She has been a Hearing Officer in FINRA’s Office of Hearing Officers since 2009. Prior to joining the Office of Hearing Officers, she served as Senior Counsel in FINRA’s Department of Enforcement in Washington, D.C. Before joining FINRA, Ms
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) today announced that it has fined the former Ferris, Baker Watts LLC, acquired by RBC Wealth Management,, $500,000 for inadequate supervision of sales of reverse convertible notes to retail customers as well as unsuitable sales of reverse convertibles to 57 accounts held by elderly customers who were at least 85 years old and customers with a modest net worth.
November 2022
Background
In August 2021, FINRA launched a targeted exam (sweep) to review firms’ practices and controls related to the opening of options accounts and related areas, including account supervision, communications and diligence. FINRA’s review focuses on a cross-section of retail and diversified firms that offer options trading to their customers.
Below FINRA poses several
Notice of Annual Meeting of FINRA Firms and Proxy
Dear Representative
I am writing because I oppose the restrictions being sought on my right to invest or anyone's right to invest in any public investment funds as they are intended to be public. These funds should remain available to the public and not made restricted to the privileged. It is not difficult to understand public investment funds and their risks, such as with leveraged
Any proposal to limit an investors ability to purchase inverse funds would not be well received and obviously ill-timed given market conditions. Every investment contains risk and a regulatory authority should not posses the authority to restrict an investors ability to use products such as these that can actually mitigate risk in one's overall portfolio. If such rules are implemented,
The Market Access Controls section of the 2018 Report on Exam Findings informs member firms’ compliance programs by describing recent findings and observations from FINRA’s examinations, and, in certain cases, also providing a summary of effective practices.
FINRA has no business involving another governmental agency in the financial markets. Why dont you spend time stopping the big banks from spoofing silver and gold prices. Now that is a real problem you could solve. I minored in Economics in college and understand the risks of leverage and inverse funds. Im currently using these types of positions for downside protection. Its an integral part of
If regulators are really concerned about helping retail investors manage their risk in the market they should make it easier to buy fractional shares and fractional options. Let's say a retail investor has 1 position in her account. She bought 100 shares of LABU @ $4.93. It rose to $5.93 today so she's gained $100. LABU is the 3x ETF for Biotech Bull. The best protection vs an LABU fall
As a non-professional retail investor, I strongly oppose the restriction of availability of leveraged and inverse ETFs and other investment vehicles. The risks of trading such securities are already made very clear and are displayed on the order confirmation screen of single buy/sell order, at every major brokerage firm that sells these products. The reach of regulation should end there- with a