February 1999
Year 2000 Legal Update
As we rapidly approach the Year 2000, there are some legal issues that all member firms should consider. Following is important information on disclosure requirements.
The Securities and Exchange Commission (SEC) Staff Legal Bulletin No. 5 requires disclosure of Year 2000 information in the financial statements of all public companies. Amendments to SEC
SUGGESTED ROUTING
Senior Management
Institutional
Legal & Compliance
Operations
Trading
Executive Summary
On May 5, 1995, the Securities and Exchange Commission (SEC) approved amendments to the Interpretation of the Board of Governors—Forwarding of Proxy and Other Materials under Article III, Section 1 of the NASD® Rules of Fair Practice1 (Interpretation). The
Please do not restrict my ability to invest into leveraged funds. I have had very good results by investing into these funds in the past and have incorporated them into my overall investment strategy. Restricting my ability to invest in these funds will hamper my ability to strengthen my retirement plan.
Now more than ever people are expected to manage their own finances and financial planning. Taking away any free market options is ludicrous. Anyone can research leveraged and inverse funds and choose whether or not to take the risk of investing in them. Do not impose restrictions on the free market.
We deserved the freedom to use our own brain and mind to pickup the investments we want purchase. The tings your guys planning to do is similar to the scandal Robinhood did during the GME and AMC trade, please stop to do it if you still want to hold credibility for FINRA.
I OPPOSE RESTRICTIONS TO MY RIGHT TO INVEST
I understand the risks associated with inverse and leveraged investment products. These proposed restrictions will not protect me from losing money, they will interfere with my ability to plan for my future. I should not have to pass a test before I am allowed to invest in public securities.
Im a hard working, tax paying, middle class American that doesnt want to be limited in my investment options. Its up to me to make that determination for myself & family. It should not be some regulators decision that is most likely detached from the perils of planning for my familys financial future.
(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 10 and no more than 25 members. At least 50 percent of the NAMC shall be Non-Industry members.
(2) The
(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 10 and no more than 25 members. At least 50 percent of the NAMC shall be Non-Industry members.
(2) The Chairperson
I run a Signal Plan that requires the use of leveraged funds (MVV, TQQQ). On a quarterly basis I evaluate whether to buy more or less shares of these funds. I do not need a government agency decidingwhether I can or can not do this. I am a big boy and can make my own decisions.
Thank you.
