TO: All NASD Members
ATTN: Operations Officer, Cashier, Fail-Control Department
On June 25, 1986, the United States District Court for the District of New Jersey appointed a SIPC Trustee for the above-captioned firm.
Members may use the "immediate close-out" procedures as provided in Section 59(i)(2) of the NASD's Uniform Practice Code to close out open OTC contracts. Also, MSRB
I oppose restrictions on the public's right to trade "complex" investments. I use leverage and inverse funds on a daily basis in my investment strategies. They are not hard for the average investor to understand. Adding red tape and complexity around these instruments is not in the investing public's best interests. I request that you reject these proposed rules.
Accurate short sale tracking is important, but it’s only as useful as the information given on dark pool activities. Dark pool existence, and how those exchanges are able to integrate shares into major exchanges is beyond fraudulent. I appreciate your efforts, but share selling will never be put into check until dark pools are eliminated.
There is a lot of "considerating" in the text above. The main point is transparency here and he need for more regular reporting. we are living in the digital era; there should be reporting of short positions every day or at the bare minimum every other day. A week is still too long to wait. Retails positions are known and not hidden.
How can AMC be the largest traded stock and the price go down? You people know this is going on. It’s just the little guy again big money and egos! This isn’t fair! Everyone deserves an even playing field. Please do what’s right and stop the naked shorting. Thank you.
Every share should be tracked with unique identifier. Every share should be located and lent only once. Every order should be delivered T+2 or fails mean 10x cost penalty and trading permission halted until delivered. Every short position should be updated with FINRA daily and publicly available.
A free market implies free trading with all available instruments. The limitations are a financial dictatorship. I will not trust a market that changes its rules every now and then in favor of some special interests and government convenience. You better focus on making the same rules for everyone and NOT make select categories with "special" rules
Correction - On page 1, the second paragraph under subhead Key Features should read: Under SEC Rule 15c3-3 Rule Type d2, d3 and h, the entry of either Issue Symbol or CUSIP will be required.
INFORMATIONAL
SEC Rule 15c3-3 Reason Codes
Effective Date: July 10, 2000
SUGGESTED ROUTING
KEY TOPICS
Legal & Compliance
Operations
Senior Management
Reason Codes
SEC Rule 15c3-
I'm fully aware of the risk involved with leveraged trades. That's why I put effort into the research I perform. I DO NOT need the Government "looking out for my best interest ". I love the freedom of investing outside of my TSP. This love diminishes with every regulation that aims to lookout for us unaccredited investors
This is an infringement on our freedom to invest. I NEVER see any marketing of levered products let alone marketing in any way to suggest these are safe vehicles. Would you prefer retail investors pay the high costs of margin interest in order to create leverage? Your overreach is beyond logical comprehension!
