Regulators need to focus their time and energies to stop the other Bill Hwangs out there that are making millions/billions doing illegal trading than us small fish trying to earn a few dollars on Inverse and Leveraged ETFs!
I am an investor and use leveraged and inverse funds in my IRA and taxable accounts. This enables me to hedge and follow my trading targets. I do not need regulators telling me what I can and can't do.
Chairwoman Waters, Ranking Member McHenry and Members of the Committee:
Introduction
On behalf of the Financial Industry Regulatory Authority, or FINRA, I want to thank you for the opportunity to appear today to discuss the important role that our organization plays in the regulation of broker-dealers and to share our response to the January market events related to trading in GameStop and
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 settlement day of a trading week. Rule 5.
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 settlement day of a trading week. Rule 5.
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 settlement day of a trading week. Rule 5.
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 settlement day of a trading week. Rule 5.
The Consolidated Audit Trail (CAT) topic of the 2024 FINRA Annual Regulatory Oversight Report (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) regulatory obligations and related considerations, (2) findings and effective practices, and (3) additional resources.
NAKED SHORTS!! SHORTS SELLING!! BORROWED SHARES!! SYNTHETIC SHARES!! I request daily MARGIN Calls on all shorts at open and close of each trading day !!
Comments: Hello Finra, Readx3. I enjoy using inverse ETFs. They are not complex. It accomplishes a similar result to shorting a stock but with out having to get a margins account. I personally don't trust myself to trade on margin. Many others don't either. It benefits me, because of its simplicity, it benefits the ETF/ETP maker because they can charge me a fee, and it benefits the
