I am a retail and self-directed investor mainly trading and investing in US listed leverage & inverse ETFs and associated exchange traded options. I am also a finance professional with work experiences in investment advisory on vanilla and structured products, including equities, fixed income, interest rates and currencies, in overseas jurisdictions outside of the US, and hold MBA and CFA
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REQUEST FOR COMMENTS
EXECUTIVE SUMMARY
The NASD requests membership comment on a proposed Corporate Financing Rule that, if
Dear FINRA,
I heard that regulations are being considered by FINRA to make certain popular complex investments unavailable to by bought by general public, including leveraged and inverse funds.
Ive been using leveraged ETFs in particular for long time as investment and trading vehicles and Im very concerned that myself and other market participants will no longer be able to buy those ETFs. I
I do not agree with the regulations that are being propose for Leverage or inverse ETFs. They are an investment tool that have produce great results for me and my family. This regulations could hurt my ability to make money with these tools. I, not regulators, should be able to choose the public
investments that are right for me and my family. Public investments should be available to all of the
To Whom it May Concern:
Leveraged investments have been a critical PORTION of my overall portfolio and long term strategy for years. While not the smoothest of rides it is a leveraged investment strategy based on the SP500 and US Treasuries and moves correspondingly with market movements of what I think one would agree are very sound investments. To end this option by a well-intended, but mis-
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Senior ManagementInternal AuditLegal & ComplianceOperationsSystems
Executive Summary
In May 1993, the NASD published Notice to Members 93-30, which set forth, in question and answer format, certain guidelines for compliance with recent amendments to the Securities and Exchange Commission (SEC) Net Capital Rule, Rule 15c3-1. The SEC adopted the amendments,
I would be categorized as a "retail" trader. The assumptions being made in this proposal are insulting, it wrongly assumes so called retail traders are uneducated in many of the products named in this proposal. The assumption non-professional traders lack understanding of these products is not what I see on a daily basis. I trade with hundreds of other traders in a Discord chat room and
Jennifer Piorko Mitchell Office of the Corporate Secretary FINRA 1735 K Street, NW Washington, DC 20006-1506 To Whom It May Concern, Hi there. I’m Dave Nadig, Financial Futurist for ETF Trends and ETF Database. For most of the last 25 years, my job has been to help asset managers understand investors and help investors understand the products that asset managers build. Since 1993, I’ve been in
Summary
FINRA has amended its By-Laws to exempt from the Trading Activity Fee (TAF) any transaction by a proprietary trading firm that occurs on an exchange of which the proprietary trading firm is a member.
The amendment to FINRA’s TAF will take effect on November 6, 2023.
The amended text of the FINRA By-Laws is set forth in Attachment A.
Questions regarding this Notice should be directed
