08-46 - Interpretive Guidance on Capital Treatment of Introducing Broker-Dealers' Clearing Deposits
FINRA Provides Clarification on SEC Guidance Regarding Emergency Orders Concerning Short Selling
The purpose of this Notice is to advise FINRA member firms that FINRA is temporarily increasing the maintenance margin requirements for auction rate securities pursuant to NYSE Rule 431(f)(8)(A) and NASD Rule 2520(f)(8)(A).
To whomever this may concern,
Leverage in small amounts (2x or less) coupled with dollar cost averaging has been shown to increase returns without a corresponding increase in risk. Ian Ayres (http://lifecycleinvesting.net/) has written extensively about this topic in both books and peer-reviewed literature. I feel strongly that there is room in the index fund market to make this automatic and
1 The views and opinions made in this report are those of the authors and do not represent official views or policies of FINRA. This report does not express any official FINRA legal position and does not create any new regulatory requirements or suggest any change in any existing regulatory obligations, nor does it provide relief from any existing regulatory obligations. This report summarizes
Dear FINRA,
Leveraged ETFs are a relatively new entrants into the stock market, with the first fund being introduced in 2006. These ETFs give retail investors easy access to leverage that does not subject them to margin calls, or expire worthless like an option. Another innovation made possible by Leveraged ETFs, are inverse strategies. By providing investors with the ability to hedge their
Breakpoint discounts are volume discounts to the front-end sales load charged to investors who purchase Class A mutual fund shares. The extent of the discount depends on the amount invested in a particular family of funds. For example, a mutual fund might charge a front-end load of 5.75 percent for share purchases of less than $50,000, but reduce the load to 4.50 percent for investments between $
Guidance Relating to Firm Short Positions and Fails-to-Receive in Municipal Securities
Testimony Before Employee Benefits Security Administration Advisory Council on Employee Welfare and Pension Benefit Plans
To Whom It May Concern:
I am strongly opposed to any restriction to on my ability to invest in leveraged and inverse funds. These funds are great innovations that have been extremely helpful in hedging my regular investments since they became available. Loss of these products would expose me to a higher level of risk. Independent entities are at a disadvantage vis a vis institutions in all social
