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
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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!
While you might feel it is in the best interest to block several of these investments. I do disagree with banning. If there are smaller hurdles fine but most people need to take responsibility for his/her investment actions. Truthfully, you missed the boat with a company like Robinhood which essentially turned investing into a casino. Mark
I do not agree with these regulations. They are designed to protect big corporate interests while punishing the little guy. Leveraged and inverse funds are important to my investing strats and I should not have to go through any special processes to invest my money how I see fit. Free speech should not be stifled!
Comments: I would be against limiting access to the leveraged indexes. These provide both diversity for small investors, while providing outsized returns at a lower cost than mutual funds. The TQQQ grew from $19 in March 2020 to $200 by Jan 2021 before a 2/1 split. It was up 1200% from Sept 2016 to Sept 2021. If FINRA is really looking out for investors, how is limiting such returns in the
FINRA Announces Updates of the Interpretations of Financial and Operational Rules
FINRA needs to crack down on naked short selling and price manipulation. I'm sure FINRA already knows these tactics but why they are not enforced really boggles my mind. If the fine is a fraction of the amount earned on these illegal tactics, then it's just a cost of doing business. They are hurting the entire market and putting everyone at risk.
Every share should be tracked with unique identifier/label. Every share should have to be located and lent only once. Every order should be delivered T+2 or fails mean large cost penalty, greater than or equal to price if share. Every short position updated with FINRA daily. Even the playing field.
