Summary
With the recent increase in the number of customers seeking to open brokerage accounts and trade options, FINRA reminds members of the requirements for determining whether to approve a customer to trade options. Regardless of whether the account is self-directed or options are being recommended, members must perform due diligence on the customer and collect information about the customer
Eric Pickersgill, Senior Vice President and Chief Information Security Officer (CISO), oversees FINRA’s Cyber and Information Security program. Mr. Pickersgill is a technology leader and subject matter expert in information security, cloud computing, risk management and IT governance with immense experience supporting Fortune 500 companies and federal agencies.
Before joining FINRA in June 2020
SG Americas Securities to Pay $3.1 Million in Total Fines to FINRA and SEC
WASHINGTON—FINRA announced today that it has fined SG Americas Securities, LLC (SGAS) $1.55 million for submitting inaccurate trade data (known as “blue sheets”) to FINRA for more than seven years. Additionally, the firm must also certify within 90 days of this settlement that it conducted a comprehensive review and
I strongly support stricter reporting requirements on short positions held by market makers and prime brokerages. It is increasingly necessary that FTD information be presented to the public as a way of not only limiting abuse of the FTD system, but also to reveal obfuscated information that is not readily available to the market and is often times concealed or miscategorized in reporting.
Comments: I strongly support the provision of detailed, useful information about the structure, and past and anticipated future performance of leveraged ETFs, but very much object to limits or prohibitions of individuals' freedom to perform leveraged ETF trades, or to hold onto trades as mid-to long-term investments, especially where a leveraged ETF has a long, documented positive
Background
On December 20, 2019, the SEC approved an amendment to FINRA Rule 6750 to permit the publication of weekly aggregated transaction information and statistics on U.S. Treasury Securities. Starting today March 10, the new TRACE Treasury aggregates are published on FINRA's website.
Aggregated Reports
The Treasury Aggregate Statistics provide trading volume in U.S. Treasury
There was a time where retail investing was uncommon, and markets have become more inclusive. That trend should continue, or at least not move backwards. Regulation should exist where there is information asymmetry and misaligned incentives, such as what CDO crisis that triggered 2008, which was mainly caused by banks not even understanding these assets and rating agencys being captured and
Every body should be able to invest in the securities you propose to legislate. The information about these securities is widely available and well documented. In addition, the average person does not have the insider information that the likes of Nancy Pelosi and Chuck Schumer have in order to make millions off the stock market. As is the case, regulating the average American away from the
I am in favor of Notice 21-19 and believe it is imperative that changes be implemented to level the playing field between retail, institutional and large firms concerning available information. Any changes that bring information to retail investors quicker and more accurately, such as short interest and FTD data, cannot come soon enough and is long overdue.
