As a not-for-profit membership organization, FINRA is committed to openness and engagement with our member firms regarding our financial plans. In that spirit, we are writing to update you on FINRA’s current financial situation and our path forward for funding FINRA’s mission of protecting investors and promoting market integrity while facilitating vibrant capital markets. As we have stated in several prior financial reports and communications, this path forward must eventually include an increase in member fees.
Summary
FINRA reminds firms to evaluate their exposure to LIBOR (formerly, the London Interbank Offered Rate), and review their preparedness to manage LIBOR’s phase-out. To understand how firms are preparing for that phase-out, FINRA surveyed a representative cross-section of member firms, including some firms with significant trading volume or positions in LIBOR-linked securities. This Notice
I want to express my concerns about the new restrictions being
planned on investments
The small investors should be able to assess where they invest their money and not have to pass any criteria that disadvantages them versus the big investors.
I have the eight ro diversify my investments without the over reach of the government. I am using earnings which h have already been taxed to.purchase crypto.
I plan to use crypto in investments to supplement my retirement.
I am fully aware of the risks of investing in leveraged and inverse funds. I am on a long-term strategy and plan to continue to invest in these ETFs in the future. Please understand that is unfair to prevent me from investing in these ETFs in the future at my own risk.
Regulatory Obligations and Related Considerations
Regulatory Obligations
Effective liquidity controls are critical elements in a broker-dealer’s risk management framework. Exchange Act Rule 17a-3(a)(23) requires firms that meet the thresholds specified under the rule to make and keep current records documenting the credit, market, and liquidity risk management controls established and
(a) Pursuant to Section II of the Plan of Allocation and Delegation of Functions by FINRA to FINRA Regulation, Inc. ("Delegation Plan"), the Board shall appoint a National Arbitration and Mediation Committee ("NAMC").
(1) The NAMC shall consist of no fewer than ten and no more than 25 members. At least 50 percent of the NAMC shall be Non-Industry members.
(2) The
Sec. 4.1 The property, business, and affairs of FINRA Regulation shall be managed by or under the direction of the Board. The Board may exercise all such powers of FINRA Regulation and have the authority to perform all such lawful acts as are permitted by law, the Restated Certificate of Incorporation, these By-Laws, or the Delegation Plan to assist FINRA in fulfilling its self-
Banning traders from buying or trading these ETF's while they are already holding them would cause catastrophic damage to most traders who are currently in positions they cannot exit. This is something that needs MUCH more time to be considered a good plan.
Please do not limit the ability of investors to participate in their own financial and investment decisions. It is always clear that investment carries risk, and leveraged and inverse funds are no different. I strongly oppose any limitation on investors ability to determine their own investment plan.
