Proposed Rule Change Relating to Dissemination of Agency-Pass Through Mortgage-Backed Securities and SBA-Backed ABS Traded in Specified Pool Transactions
TO: All NASD Members
The Association has been, receiving an increased number of inquiries regarding the application of Article III, Section 26 of the Rules of Fair Practice to certain compensation arrangements, and proposed arrangements, between principal underwriters and dealers in open-end management investment company shares (mutual funds) and unit investment trusts. These inquiries are
(a) No member that is promoting a day-trading strategy, directly or indirectly, shall open an account for or on behalf of a non-institutional customer, unless, prior to opening the account, the member has furnished to the customer the risk disclosure statement set forth in Rule 2270 and has:
(1) approved the customer's account for a day-trading strategy in accordance with the
Average people should be allowed to invest to earn additional money or grow their wealth. Changing these rules further divides those who have and those who do not.
The Neutral Corner—Volume 3, 2021
Mission Statement
Avoiding Confusion and Delays When Resolving Motions to Dismiss (by Matthew Kipnis, FINRA Extern)
Bits, Bytes and E-Discovery Fights (Part III) (by Lisa Miller, FINRA Arbitrator)
Using Arbitration Hearing Scripts (by Narielle Robinson, Senior Case Administrator, FINRA Mediation)
FINRA Dispute Resolution Services and FINRA News
• Corporate Financing Rule—Failure to Comply With Rule Requirements
• Engaging in Prohibited Municipal Securities Business
• Escrow Violations—Prohibited Representations in Contingency Offerings; Transmission or Maintenance of Customer Funds in Underwritings
• Restrictions on the Purchase and Sale of
<p>Non-cash compensation sales contest permissible under Conduct Rule 2820(h) where member sells only one variable annuity and one variable life product and appropriate records are maintained.<br/></p>
Please keep the existing rules in place. This isn't the time to be making changes for 3x, 2x funds while the market is at its current status. Thanks for your consideration.
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
Please keep the rules simple and available to all.
We all must be responsible. Triple leveraged funds
can help an investment portfolio gain and build value.
