I have been informed that you intend on restricting, impairing or preventing my ability to purchase and sell proshares inverse ETF funds such as QID. I am currently using them as a hedge against adverse market conditions. As, regulators I do not believe you should restrict my rights to invest or hedge my current portfolio. If you do so, you will financially damage my assets in a down market.
To the team at FINRA,
While I certain appreciate our regulatory system constantly looking to protect consumers and prevent fraud to ensure there is integrity in our financial system, I ask that you please avoid placing restrictions on our ability to invest. Limiting access for everyday investors (like myself) to funds like inverse or leveraged funds and only allowing those who already are
FINRA Provides Clarification on SEC Guidance Regarding Emergency Orders Concerning Short Selling
Comments: I am an active retail trader of leveraged ETFs, including inverse funds. I object to all proposed regulations that might require me to suspend my trading activity, including but not limited to minimum capital requirements, and regulations that may restrict execution of trading orders. Persons should be free to engage in speculation in financial markets and the disenfranchisement of any
IMPORTANT
PLEASE DIRECT THIS NOTICE TO ALL FINANCIAL AND OPERATIONAL OFFICERS AND PARTNERS
TO: All NASD Members and Other Interested Persons
In NASD Notice to Members 81-12, the Association advised the membership of the SEC's Division of Market Regulation interpretation concerning the treatment of concessions receivable and related commissions payable under the Uniform Net Capital Rule (SEC
SUGGESTED ROUTING:*
Internal AuditOperationsSystemsTrading*These are suggested departments only. Others may be appropriate for your firm.
As of July 28, 1992, the following 48 issues joined the Nasdaq National Market, bringing the total number of issues to 2,916:
Symbol
Company
Entry Date
SOES Execution Level
CTEC
Cholestech Corporation
6/26/92
1000
SBUX
Starbucks
LETFs are indeed complex investment instruments but I believe current disclosure requirements are more than sufficient for investors to remain informed about the products they are buying. Limiting the purchase of LETF products to accredited investors or requiring financial literacy tests to purchase only puts unnecessary roadblocks in place that are easily circumvented. Enforcing one day holding
Publication Date: February 23, 2023
Interpretations are marked in blue background beneath the rule text to which they relate.
15c3-1a Options (Appendix A to 17 CFR 240.15c3-1).
15c3-1a(a) Definitions.
15c3-1a(a)(1) The term unlisted option shall mean any option not included in the definition of listed option provided in paragraph (c)(2)(x) of § 240.15c3-1.
15c3-1a(a)(2) The term option
(a) A member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer's investment profile. A customer's investment profile includes,
(a) A member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer's investment profile. A customer's investment profile includes,
