I am Barry R. Goldsmith, Executive Vice President for Enforcement of NASD Regulation, Inc. (NASDR). NASDR and its parent, the National Association of Securities Dealers, Inc. (NASD®), would like to thank the Subcommittee for this opportunity to testify at today’s hearing.
I have not been very successful with my Proshares either on the long side or the short side but I still think that I should have the ability to trade these shares as I see fit for my portfolio as market conditions change.
GUIDANCEContinuing EducationSUGGESTED ROUTINGKEY TOPICSContinuing EducationLegal & ComplianceRegistrationSenior ManagementContinuing EducationFirm ElementExecutive SummaryThe Securities Industry/Regulatory Council on Continuing Education (Council) has issued the annual Firm Element Advisory, a guide for firms to use when developing their continuing education Firm Element training plans.
Leveraged and inverse funds are critically important to me in hedging our portfolio risk. Any efforts to curtail their availability would be short sighted and an egregious abuse of regulatory authority. Please leave them alone!!!
I use inverse etf's to hedge my long positions. Trying to short an individual stock is much too risky. A inverse etf is so much safer. Please do not put an end to inverse etfs.
Would elimination of short selling be a better solution? These big guys crush any stock they want and steal from everyone. My opinion this would stop a lot of the theft in stock wealth and destruction of businesses.
More frequent reporting of short positions, eg weekly. Positions, trade date (open), trade date (closed), holder. Optional price and positions without showing holder.
I believe a more transparent form and frequency of short position reporting would be very beneficial to the stock market and retail investors specifically based on increased trust in the institution as a whole.
Reports on short positions should be done on a daily basis with no T+ days. In my observation, a lot of the fraud and price manipulation are able to stay hidden due to T+ days.
At a minimum we should have transparency in the market to see the same information hedge funds and market makers see also to see short positions that effect market prices
