Joseph H. Phoenix [REDACTED] May 3, 2022 Re:Comments FINRA Notice March 8, 2022 Dear Financial Industry Regulatory Authority (FINRA): It is my understanding that FINRA has proposed regulations in its notice dated March 8, 2022 that will make it less easy to buy and sell leveraged and inverse electronically traded funds. I trade with major brokerage houses. I buy and sell leveraged and inverse
I am very distressed to learn that someone is considering to place restrictions and hurdles to overcome for my ability to trade inverse mutual funds. Following advice of my financial advisor and educating myself about the S + P 500 index/inverse index, I have been using the strategy for several years. I AM PLEASED WITH THE RESULTS. I know the risk and reward of using inverse funds. To my
I think that naked short selling should be completely outlawed in every corner of Wall Street. However, considering that large financial groups have very large amounts of money and power in their favor, I don't think that is possible. What is possible is complete equality and transparency when it comes to disciplinary actions enforced. For example, the hedge fund Citadel Securities has been
TO: All NASD Members and Other Interested Persons
The Department of the Treasury is amending Form 4789, the Currency Transaction Report, which is used by broker-dealers to report cash transactions of more than $10,000, as required by SEC Rule 17a-8 and the Currency and Foreign Transactions Reporting Act of 1970.
The new form becomes effective on July 1, 1986.
BACKGROUND
The Currency and Foreign
Governmental intervention has unpredictable and unhealthy consequences for investors such as myself. I strongly oppose restrictions placed on buying leveraged or inverse funds. Investors, such as myself must be allowed to make decisions that will permit us (me) to leverage various commodities in market downturns as well as upturns. Similarly, we (I) must be allowed to buy leveraged or inverse
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FINRA Firm Grouping Member Forums are one-day free events designed to provide financial professionals associated with FINRA member firms the opportunity to engage in key discussions with FINRA staff and connect with industry leaders and peers. The forums also include thoughtful discussions around the future landscape of the financial services industry and provides opportunities to meet one-on-
There needs to be a far stronger watch on naked short selling that is clearly a major issue in the current market. Investors should have full transparency to what's going on within the markets they invest their money in. The entire world has their eyes on the US Financial system at the moment. The result of the lack of oversight and control has put extreme distrust in the American financial
FINRA 21-19 is something this country has needed for a long time -- financial institutions, hedge funds and the like need to be better regulated. I didn't know a lot about the market before this year, but what I have learned is that there are too many loopholes, and a lack of enforcement of existing regulations, that allows big players to make money at everyone else's expense. Synthetic
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to revise and restate the qualifications for representatives in arbitrations and mediations.
