IMPORTANT
TO: All NASD Members and Other Interested Persons
At its November meeting, the NASD's Board of Governors determined to take several actions in the area of short sale regulation in the over-the-counter securities market. This notice summarizes these actions.
Reporting of Open Short Interest Positions
The first such action will require members to report to the NASD, for purposes of
I think individual investors are severely disadvantaged when compared to other market participants when it comes to the issue of access to information. We desperately need more transparency surrounding short selling. I urge you to implement requirements for more frequent reporting of short positions. Anything you can do to get more data in the hands of the public is a step in the right direction.
As previously announced on March 22, 2024 in a FINRA Trade Reporting Notice, FINRA is planning to implement enhancements to the FINRA equity trade reporting facilities to support the reporting of fractional share quantities. The enhancements require associated updates to FINRA’s trade reporting guidance, as described in greater detail in the Trade Reporting Notice. These enhancements are being
FINRA announced today the results of its election of two Governors to its Board of Governors. The announcement came after the Annual Meeting of FINRA firms, where Scott A. Curtis, president of Raymond James’s Private Client Group, was elected as a Large-Firm Governor, and Wendy Lanton, Chief Compliance Officer and Founding Principal of Herald & Lantern Investments, Inc., was re-elected as a Small-Firm Governor.
For a market to be free and fair all information on a tradeable asset must be disclosed. These updated rules protect all parties but particularly retail investors like myself who do not have access to the same data set as large firms. I support these rule changes, a more transparent market would benefit current investors and protect the confidence of future investors in the US stock market.
I think when it comes to FTD's and naked shorting that the fines and punishments should be much more than what the companies failing are making in profit. These companies should be held accountable and have assets liquidated if they do not cover FTD's. Settlement periods should be removed. It shouldn't be a T+2 system. How is it fair to the retail investor when it dates days for us
FINRA is introducing a new system for FINRA member firms to submit the FINRA Participant agreement and FINRA order form. Beginning January 31, 2022, FINRA Member firms will be required to use the Participant Data Management platform to perform the following functions for the TRACE, ORF or ADF facilities:
Submit, view, and amend the FINRA Participation Agreement;
View and modify access to the
I am capable of understanding leveraged and inverse funds and their risks. They help me protect (hedge) my investments or seek enhanced returns for my family and myself. What is more information, according to the Fourteenth Amendment to the U.S. Constitution, I 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
I oppose any restrictions to my right to invest in specialized leveraged and inverse funds. These types of investment products should be available to any individual's investment strategy and not only to the privileged that can meet a set of arbitrary conditions set by regulators. I felt fully informed and understood all risk involved before I started to use these types of leveraged and
