June 13, 2007
On July 9, 2007, the Regulation NMS Pilot Stock Phase is scheduled to begin. In this regard, as described in NASD Notice to Member (NTM) 07-23, NASD has adopted new transaction reporting modifiers that member firms are required to use when reporting to NASD facilities (each of NASD's Trade Reporting Facilities (TRFs) and the Alternative Display Facility (ADF)), whether a
It is more than obvious that several agencies are not complying with the rules for naked shorts and FTD's. Retail investors should have the same real time information as hedge funds to include short interest and real time trading.
NASDR has filed with the SEC a proposed rule change that would amend NASD Rules 6530 and 6540 to limit quotations on the OTC Bulletin Board® to the securities of issuers that are current in their reports filed with the SEC or other regulatory authority, and to prohibit a member from quoting a security on the OTCBB unless the issuer has made current filings, respectively.
Request to ban naked short selling and to implement rules that curb it (e.g., T-0). Increase transparency of market makers. Follow in other countries' footsteps in bringing criminal charges and impactful fines ($1B+) against violaters.
(a) General
Industry Members are required to record and report data to the Central Repository as required by this Rule Series in a manner that ensures the timeliness, accuracy, integrity and completeness of such data.
(b) LEIs
Without limiting the requirement set forth in paragraph (a), Industry Members are required to accurately provide the LEIs in their records as required by
There are two FINRA/Nasdaq Trade Reporting Facilities: FINRA/Nasdaq Trade Reporting Facility Carteret and FINRA/Nasdaq Trade Reporting Facility Chicago. As used in the Rule 6300A Series, the term "FINRA/Nasdaq Trade Reporting Facility" means either the FINRA/Nasdaq Trade Reporting Facility Carteret or FINRA/Nasdaq Trade Reporting Facility Chicago, as applicable, depending on the
On June 9, 2005 the Securities and Exchange Commission (SEC) issued its release adopting Regulation NMS. Regulation NMS established substantive rules designed to modernize and strengthen the regulatory structure of the United States equities market. View SEC's spotlight on Regulation NMS. In addition, the SEC approved amendments to NASD Rules that align them with Regulation NMS
The attemp of this measure on your part is clear You want only the rich to profit on events of future economic turbulence - not the low life non ruling class. Ive done my research and Im well educated on what these funds do. It doesnt take a genius or a class. Go find something else to regulate.
I do not appreciate regulators trying to restrict opportunities to advance ones wealth in life by telling them they must have knowledge, be certified, or already have wealth. This restricts people already at a disadvantage. Very similar to telling blacks and people of color that the must be able to read in order to vote. This considered rule is a straight discrimination.
I should be able to choose my own investments without an added burden of the new rules you are considering. My broker already has my investment background and experience, so no federal survey is needed. A test is an especially onerous requirement. It is already clear when purchasing a leveraged or inverse fund what the risks are.
