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Last Updated: 8/29/07
Margin Information |
We have published a number of communications for members, investors, and others about the area of margin. For your convenience, this page brings together this information in one area of our site.
Understanding Margin Accounts
We have issued an investor guidance to provide some basic facts about the mechanics of margin accounts. This document also provides examples in order to help illustrate margin transactions.
Margin Statistics
This page provides statistics about debit balances in customers’ cash and margin accounts; and information about free and other credit balances in customers’ securities accounts. Statistics on this page are updated approximately monthly.
Margin Disclosure Statement
View a Margin Disclosure Statement, which member firms may use, at their option, in complying with new margin disclosure requirements (see below).
Margin Statement Stuffer
View an account statement stuffer providing basic information about purchasing on margin and managing a margin account.
View PDF
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NASD/NYSE Margin Statement
View a joint statement from the New York Stock Exchange and NASD asking their member firms to take several steps relative to the extension of margin credit.
Purchasing on Margin
We have issued this investor guidance to provide some basic facts to investors about the practice of purchasing securities on margin, and to alert investors to the risks involved with trading securities in a margin account.
Rule Filings
FINRA publishes proposed NASD rule changes and makes them available for viewing on this site. Following are rule filings dealing with margin information.
Notices to Members
Notices to Members is a monthly publication providing timely regulatory information about FINRA, including reports on amended rules, legal interpretations, and compliance guidelines.
01-37 NASD Regulation Extends Deadline for Delivery of Margin Disclosure Statement to Existing Non-Institutional Customers to January 31, 2002
01-31 SEC Approves NASD Rule Proposal Requiring Delivery of Margin Disclosure Statement to Non-Institutional Customers
01-26 SEC Approves Proposed Rule Change Relating to Day-Trading Margin Requirements
01-11 SEC Approves Proposed Rule Change Relating to Cash And Margin Treatment for Certain Types of Options Positions
00-61 NASD Regulation Files Rule Proposal With SEC Requiring Delivery of Margin Disclosure Statement to Customers
99-33 NASD Regulation Advises Members About Maintenance Margin Requirements for Certain Volatile Stocks and Solicits Comment on Margin Practices; Comment Period Expired May 31, 1999
Testimony
View testimony by Mary L. Schapiro and Barry R. Goldsmith on topics such as margin lending and the use of margin by day traders.
Goldsmith, Barry R.
Testimony before the Permanent Subcommittee on Investigations Senate Committee on Governmental Affairs on the Securities Day-Trading Industry
February 25, 2000
Schapiro, Mary L.
Testimony Before the Permanent Subcommittee on Investigations Senate Committee on Governmental Affairs on the Securities Day Trading Industry
September 16, 1999
Electronic Investing
FINRA has provided an Electronic Investing page as an education and awareness resource. Provided in a Q & A format, below are margin-related questions from this page.
Day Trading Margin Requirements: Know the Rules
FINRA has provided a Day Trading Margin Requirements page for guidance and answers to frequently asked questions about how the new day-trading margin requirements operate.
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