As part of its efforts to combat abusive market timing in mutual funds, the SEC intends to propose a mandatory redemption fee on short-term trades. On November 17, 2003, the SEC requested that NASD convene a working group of industry experts to consider how this initiative may be affected by the use of mutual fund omnibus accounts. This memorandum summarizes the views expressed by members of the
This seems like it could easily lead to a situation where the only people who can open a self-directed account to trade in options or complex products are rich, white, financial professionals. The rich get richer.
By FINRA Departments of Member Supervision and Enforcement
A call to FINRA’s Senior Helpline resulted in $3.4 million returned to approximately 300 customers.
In 1996, the Santa Rosa Bay Bridge Authority in Milton, Fla. issued bonds to raise capital for the construction of a bridge. Fast forward about 25 years to February 2021: A customer contacted FINRA’s Senior Helpline, concerned that he had
GUIDANCE
SUGGESTED ROUTINGKEY TOPICS
Internal AuditLegal & ComplianceOperationsSenior ManagementSystemsTrading
IM-2110-2Limit OrdersLimit Order ProtectionManning RuleRule 6541
Trading Ahead of Customer Limit Orders
Executive Summary
On February 26, 2007, the Securities and Exchange Commission (SEC) approved amendments to Interpretive Material (IM) 2110-2, Trading Ahead of Customer
(a) Procedures for Reviewing TransactionsAn Executive Vice President of FINRA's Market Regulation Department or Transparency Services Department, or any officer designated by such Executive Vice President, may, on his or her own motion, review any transaction involving an OTC Equity Security arising out of or reported through a trade reporting system owned or operated by FINRA or FINRA
Closing the door after the horse has left the barn is improper and helps no one who is using these trading tools. Especially in a time of high market volatility. There is always a winner and looser. The disclosures are provided and it is up to the investor.
Series 7 registered representatives are not required to register under Series 55 as equity traders based solely on the fact that they perform the clerical function of entering customer phone orders into the same routing system that customers could use to enter orders electronically. The Series 7 representatives, under the facts described in the letter, would not provide any advice to the customers, including advice on possible paths or methods of execution.
Please note my comments as below: Rule 1. All short sale shall be reported to finra by end of each settlement day. Rule 2. Finra shall make public report the day to day short sale by end of settlement day or the trading week. Rule 3. All unused loaned shares shall be reported to finra by end of settlement day. Rule 4. Finra shall make public the outstanding unused loaned share by end of
I have used ProShares as a hedge against market declines many times. It actually lowers risk in my portfolio in that its an insurance against large market drops.
I totally oppose any restrictions on trading this product!
Please do something about the manipulation of the AMC and GME stocks. Excessive dark pool trading, excessive short selling, being contributing factors.
