The staff granted an exemption from NASD Rule 2790 in connection with new issue offering where all decisions regarding the allocation of shares in the offering are determined at the sole discretion of the issuer, and the involvement of a member in the offering is mandated under state law and limited solely to ministerial functions.October 18, 2005 Noel M. Gruber, Esq.Kennedy &
The NASD would like to thank the Subcommittee for this opportunity to testify on organized crime in the securities markets, the scope of the problem and our efforts to address it.
Unless otherwise indicated, suspensions will begin with the opening of business on Monday, August 19, 1996. The information relating to matters contained in this section is current as of August 5, 1996. Information received subsequent to August 5, 1996, is not reflected in this section.
Firm Fined, Individual Sanctioned
Chatfield Dean & Co. (Greenwood Village, Colorado) and Scott
SEC Approves Amendments to Transaction Reporting and Trading Activity Fee Rules Related to the Reporting of Asset-Backed Securities Transactions
As prepared for delivery
Good morning, and thank you, Professor [Reena] Aggarwal for that kind introduction and the invitation to join you today. Under your leadership, Georgetown’s Center for Financial Markets and Policy has come to be an important forum for discussing current policy and regulatory issues facing the global financial markets. We all owe you and your colleagues at the Center a
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
Comments: Dear FINRA, I have been investing in stocks and options for over 30 years and have used leveraged or inverse products for the last 20 years. The proposed regulations and or guardrails for what you call complex products would undoubtedly disrupt the existence of these products and future development of these products. L&I ETF's have given me the opportunity to
As a retail investor, who has been actively trading in the last 2 years and these regulations are very much targeted at, I do not agree with the proposed rule/guidance changes. FINRA has already placed many barriers to retail investors in the form of PDT rules, $25k capital requirements, etc. At no point in my journey as a new trader have I felt that the restrictions benefitted me or protected me
I know for sure that having specialized rules and red tape for complex leveraged and inverse products does not actually reduce the risk faced by retail investors. Access to leverage can even be used to reduce risk in an overall portfolio, as numerous other commenters have noticed. When implemented as part of a well planned strategy, leveraged and inverse products can provide crucial diversifying
I am very concerned that I have heard that regulators are contemplating putting new requirements on individuals that want to invest in leveraged or inverse funds. I am an investor that has been investing in various stock, mutual funds, and ETFs for over 50 years. The advent of leveraged and inverse funds through the use of ETFs has greatly enhanced my capability to improve my investment returns
