I am an owner of a Registered Investment Advisory firm and a registered representative of an unaffiliated FINRA member firm. I appreciate the opportunity to comment on the newly proposed Rule 3290 as set forth in FINRA Regulatory Notice 25-05.Fundamental to the fiduciary relationship that exists between our firm and our clients is the trust that our clients have that their personal information
SummaryDay trading broadly refers to an overall trading strategy where a customer effects both buy and sell transactions in the same security in the same day to profit from movements in the price of the security. FINRA has had longstanding rules designed to limit the potential losses from day trading for both customers and members, and to ensure the risks of day trading are disclosed to customers
FINRA’s rules should be modernized to address economic costs, evolving markets, technology advancements, and regulatory inefficiencies. Below are key areas for modernization, including specific rules, guidance updates, and regulatory overlaps that warrant attention.1. Focus Areas for Modernizing FINRA RulesSeveral FINRA rules are outdated, overly burdensome, or fail to account for modern trading
Boelte O’Hara Wealth Management 403 Virginia Avenue Clarksville, VA23927May 13, 2025 Ms. Jennifer Piorko Mitchell Office of the Corporate Secretary FINRA1700 K StreetWashington, DC 20006Re: Request for Comment on Regulatory Notice25-05Dear Ms. Mitchell,I am an owner of a Registered Investment Advisory firm and a registered representative of an unaffiliated FINRA member firm. I appreciate the
May 13, 2025Ms. Jennifer Piorko Mitchell Office of the Corporate Secretary FINRA1735 K StreetWashington, DC 20006Re: Request for Commenton Regulatory Notice25-05Dear Ms. Mitchell,I am an owner of a Registered Investment Advisory firm and a registered representative of an unaffiliated FINRA member firm. I appreciate the opportunity to comment on the newly proposed Rule 3290 as set forth in FINRA
May 13, 2025Ms. Jennifer Piorko MitchellOffice of the Corporate Secretary FINRA1700 K StreetWashington, D.C. 20006Re: Request for Comment on Regulatory Notice 25-05Dear Ms. Mitchell,I am a member of a Registered Investment Advisory firm and a registered representative of an unaffiliated FINRA member firm. I appreciate the opportunity to comment on the newly proposed Rule 3290 as set forth in
Summary
In August 2019, FINRA launched a retrospective review that, among other things, sought stakeholders’ input on the effectiveness of Rule 3240 (Borrowing from or Lending to Customers).1 Based on feedback received during the review, FINRA is proposing amendments to Rule 3240 to:
emphasize that the rule generally prohibits registered persons from entering into borrowing or
May 12, 2025Ms. Jennifer Piorko Mitchell Office of the Corporate SecretaryFINRA 1735 K Street Washington, DC 20006 Re: Request for Comment on Regulatory Notice 25-05 Dear Ms. Mitchell,I am an Investment Advisor Representative of a Registered Investment Advisory firm and a registered representative of an unaffiliated FINRA member firm. I appreciate the opportunity to comment the newly proposed
I oppose FINRA Regulatory Notice 25-05 and Proposed Rule 3290
I write in opposition to the proposal.If I understand correctly that “Investment-related activity” means pertaining to financial assets, including securities, crypto assets, commodities, derivatives (such as futures and swaps), currency,banking, real estate or insurance, this seems too broad. If I understand that the proposal would also require B/D's to approve each transaction in writing
