Mr. Chairman and Members of the Committee: NASD would like to thank the committee for the invitation to submit this written statement for the record.
I am Mary L. Schapiro, President of NASD Regulation, Inc. NASD Regulation, Inc. and our parent, the National Association of Securities Dealers, Inc. (NASD®), would like to thank the Subcommittee for this opportunity to testify on the securities day-trading industry
Mr. Chairman and Members of the Subcommittee: Thank you for inviting us to testify on financial literacy and for allowing us to submit this statement for the record. NASD is committed to expanding the knowledge and confidence of all Americans wishing to build a more secure financial future through saving and investing.
Anything that helps transparency in the options market is what i am looking for. If this will genuinely impact market corruption and help the detection of it i vehemently approve. There are many loop holes in the way securities are handled that can lead to corruption that can threaten our economy. This and more procedure changes are encouraged and needed!
Due to the complicity of FINRA, NSCC, DTCC and other federal agencies to not ensure a fair and equal market for all. We want all transactions reported in 24 hours. The markets has been corrupted and loss of faith and integrity of a fair market needs to be established. Responsibility and accountability needs to be progressive and transparent.
In regards to questionable trading through means such as so-called "dark pools" and concerning statistics indicating a high volume of naked shorting of synthetic stocks. I am request, on behalf of many retail stock traders, that all transactions for the AMC stock reported and verified within 24 hours.
Have all transactions reported within 24 hours.
I know WTH I'm doing. Unnecessary regulation. I do not want my investment opportunities restricted. I limit 3x ETFs to money I can affort to ride through volatile market periods. Might be a good idea for shortsellers/day traders but not for general long- to medium-term investment.
I oppose restrictions on my right to invest in public investments.
Fails to deliver and short positions should be reported in 24 hours. There is no reason to allow T+2 and T+35 days for reporting.
