A member inter-dealer quotation system (whether or not also an alternative trading system or “ATS” as defined by Rule 300(a) of SEC Regulation ATS) that permits quotation updates on a real-time basis in OTC Equity Securities must comply with the following requirements:
(a) The member inter-dealer quotation system must establish, maintain and enforce written policies and procedures
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to adopt a Supplemental Liquidity Schedule, and Instructions thereto, pursuant to FINRA Rule 4524 (Supplemental FOCUS Information).
SummaryFINRA has amended Rule 13606 of the Code of Arbitration Procedure for Industry Disputes to provide that the Director of FINRA Dispute Resolution Services will provide a copy of the official record of an expungement hearing held pursuant to Rule 13805, and any transcription if the recording is transcribed, to any customers, upon request, who attend and participate in the expungement hearing
Executive Summary
On November 17, 2000, the Securities and Exchange Commission (SEC) adopted Exchange Act Rule 11Ac1-5 ("Rule"), which requires "market centers" that trade national market system securities to make available standardized, monthly reports containing statistical information about "covered order" executions. The Rule is intended to promote visibility
Government and industry regulators should have no authority to prevent or restrict individual investors from investing in securities that are perfectly legal, regardless of an investor's personal understanding of such products. Informing investors is a great thing, but regulators have no right to require investors to undergo any kind of prerequisite educating or testing prior to trading
I am a Certified Financial Planner with 30 years of experience. These producs must be allowed to be traded by the open public. Any restriction is bad for the markets and the consumer. It is up to the consumer, not the government to make these decisions. There is more than enough information available to consumer regarding any potential risks. They can asses the risk themselves.
REQUEST FOR COMMENT
Disclosure of Mutual Fund Expense Ratios in Performance Advertising
Comment Period Expires: January 23, 2004
SUGGESTED ROUTING
KEY TOPICS
Advertising/Investment Companies
Executive Representatives
Legal & Compliance
Mutual Fund
Senior Management
Advertising
Mutual Fund Expenses
Investment
I have been actively investing in the stock market since 1985 and have followed the development of leveraged and inverse funds and ETFs as they progressed. I think the current requirements of the brokerage firms is adequate information to investors about these types of securities. I think no additional restrictions or regulations should be placed on my right to invest in these securities.
Leveraged etfs and inverse funds provide retail investors to create wealth over an extended period of time. These are easy to understand like any other regular etfs. There's sufficient information available through unpaid and paid sources about these investment instruments. Any restrictions will be against the interest of retail investors.
