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GUIDANCE
Cost Basis Information
SUGGESTED ROUTING
KEY TOPICS
Legal & Compliance
Operations
Registered Representatives
Senior Management
Cost Basis Information
Rule 2110
Executive Summary
It has come to NASD's attention that some members may be purposely interfering with the transfer of cost basis
I appreciate the need to protect retail investors from making decisions when they do not fully understand the risks or other features of the products. It is reasonable to require the broker to take steps to educate retail investors and conduct some sort of test to make sure that they understand what they are getting into. But insurmountable obstacles should not be thrown in the path of retail
I believe FINRAs scheme is misguided because it:
Hurts Investors: It could potentially deny you the freedom to choose investments that could
help you achieve long-term financial security.
Is Arbitrary and Unworkable: FINRAs definition of complex products is so broad, arbitrary
and vague that it could ensnare a vast number of commonly used public securities and affects my ability to freely
To FINRA
I plead to you on my behalf & on behalf of my family. I am a "small" account holder, for the past 10 years I trade "only" these leveraged ETF's & ETN's. I mastered my own system and this is my only income. If you regulate these investments to large accounts I will be cut out of my livelihood. Finding a new
I urge FINRA to continue to protect the right of choice in how to best protect our investment portfolios in order to help achieve long-term financial security. My fear is that regulations could be too broad and difficult to interpret and therefore, Unworkable: The definition of complex products is so broad, arbitrary and vague that it could ensnare a vast number of commonly used public securities
INFORMATIONAL
Fixed Income Pricing SystemSM
SUGGESTED ROUTING
KEY TOPICS
Executive Representative
Legal & Compliance
Operations
Senior Management
Trading
FIPS
As of April 23, 2002, the following bonds were added to the Fixed Income Pricing System (FIPSSM).
Symbol
Name
Coupon
Maturity
ACGH.GA
American Color Graphics Inc.
12.750
08/01/05
AMWA.GB
I understand that you are trying to place these restrictions on the sale of complex securities to protect consumers, and I support warning systems that prevent scams and fraud, but I think it is best to let non-accredited, private investors make their own investment decisions at the end of the day.
Government is never very good at fixing a broken system..
However, ..Now the Govt is trying to fix something that is not broken and will more than likely cause issues that never existed before the regulations proposed.
The outcome will likely hurt investors.
This is obviously bias and against every American who chooses to invest for their future or retirement. Investing cannot only be for the wealthiest people. Our true freedoms would be a complete falsehood. A bank savings account is a joke in American banking system!!
