Today I'm giving my first speech as FINRA's Chairman and CEO—and I can't think of a better audience for the occasion, although all of us wish the economic circumstances of the occasion were quite different. The fact that you are here speaks volumes about your commitment to build the most effective control environment possible at your firms.
The availability of complex products and options can potentially expand the investment opportunities for retail investors and, if properly understood, offer favorable investment outcomes (e.g., enhancing returns, limiting losses or improving diversification). However, important regulatory concerns arise when investors trade complex products without understanding their unique characteristics and
SEC Approves Amendments to FINRA Rule 5110 to Permit Termination Fees and Rights of First Refusal
TO: All NASD Members and Other Interested Persons
BACKGROUND
The securities industry, in late 1983, asked the North American Securities Administrators Association (NASAA) to review the registration delays resulting from agent transfers between broker-dealers. After extensive deliberations by the NASAA/CRD Committee and its NASD advisors, a Temporary Agent Transfer program was developed by the
INFORMATIONAL
Risk Management Practices
SUGGESTED ROUTING
KEY TOPICS
Legal & Compliance
Senior Management
Risk Management Practices
The Suggested Routing function is meant to aid the reader of this document. Each NASD member firm should consider the appropriate distribution in the context of its own organizational structure.
Executive Summary
The Securities and Exchange
This Report highlights FINRA’s regulatory operations programs’ expanded focus on ongoing key areas of risk to investors and the markets:
Reg BI and Form CRS
Regulation Best Interest (Reg BI) and Form CRS remain areas of focus across FINRA’s regulatory operations programs. FINRA’s reviews of member firms’ adherence to their obligations pursuant to Reg BI and Form CRS address a number of areas,
Individual investors should be permitted to trade leveraged and Reverse ETF. One does not need to have a large amount of capital to have intelligence and the ability to understand and use these investment vehicles. Special tests or other special requirements should not exist which would limit individual investors access to these vehicles. and, under no circumstances should access be cut at the
I am not in the investment industry, nor have I ever been. I have worked hard for my money all my life and believe it belongs to me, and I should be able to invest it as I see fit without some bureaucrat in DC telling me I'm too stupid to handle my own affairs.
If these public investments are so dangerous that they need to be reserved only to the "rich big shots" then
(a) No member or person associated with a member shall cause to be executed an order to buy or sell a security or a related financial instrument when such member or person associated with a member causing such order to be executed has material, non-public market information concerning an imminent block transaction in that security, a related financial instrument or a security underlying the
TO: All NASD Members and Level 2 and Level 3 Subscribers
On Tuesday, April 7, 1987, 37 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/NMS to 2,847. These 37 issues, which will begin trading under real-time trade reporting, are entering NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary
