This is a huge mistake. Retail investors are much more sophisticated than you are giving them credit for. WE DO NOT NEED MORE BABYSITTING AND HANDHOLDING. We have the right to take the risk and invest in products that we so choose. Let us trade and invest in these complex products. The proposed rule changes are insulting, unamerican, and disgraceful.
People have the right to take risks on investments they choose to willingly participate. This is a tremendous overreach of freedom to do with one's money as they please. By this proposed rule's logic by FINRA, no one should be allowed to gamble without an approval process and testing (as well as cooling-off period) on how the gamble-based game they are about to play works and
IMPORTANT MAIL VOTE
OFFICERS, PARTNERS AND PROPRIETORS
TO: All NASD Members
LAST VOTING DATE IS MARCH 21, 1987.
EXECUTIVE SUMMARY
Members are invited to vote on amendments to the NASD By-Laws and Rules of Fair Practice that would effect certain technical and conforming changes to reflect the NASD's position on the use of disgorgement as a sanction in disciplinary proceedings. These
As a retail shareholder and investor (equities and options) in multiple companies such as Tesla, Gamestop, AMC, along with the typical ETFs tracking the broader market I feel that we have not been well served by the current rules and system. The lack of transparency, limited reporting, and massive loopholes like synthetic short positions and loan obligations not being required to be reported in
I am 72 and retired Wall Street for over 35 yrs. No one but me should determine what is suitable for me.
Your rules lose people money. Your 3 day trades in 5 days in these volatile markets guarantees losses except for the most nimble.
Please go on a long vacation allow brokerage firms to know their customers!
Dear sir,
I want to state my opposition to the proposed rule, potentially limiting the financial products in which I can invest. I am confident that I can make that decision best for myself and I am opposed to regulation that limits my choices based on someone else's judgment. There are already many regulatory safeguards in place. This is an unneeded and damaging addition.
(a) Military Installations
For purposes of this Rule, a "Military Installation" shall mean any federally owned, leased or operated base, reservation, post, camp, building or other facility to which members of the U.S. Armed Forces are assigned for duty, including barracks, transient housing and family quarters.
(b) Disclosures
A member engaging in sales or offers of sales of
• Conversion or Improper Use of Funds or Securities
• Forgery and/or Falsification of Records
Conversion or Improper Use of Funds or Securities
FINRA Rules 2010 and 21501, and NASD Rule 2330 and IM-2330
Principal Considerations in Determining Sanctions
Monetary Sanction
Suspension, Bar or Other Sanctions
(a)(1) Unless otherwise permitted by FINRA, a capital acquisition broker must suspend all business operations during any period in which it is not in compliance with applicable net capital requirements set forth in SEA Rule 15c3-1.
(2) FINRA may issue a notice pursuant to FINRA Rule 9557 directing a capital acquisition broker that is not in compliance with applicable net capital
(a) Persons Subject to Sanctions
If a Party, attorney for a Party, or other person authorized to represent others by Rule 9141, engages in conduct in violation of an order of a Hearing Officer, a Hearing Panel or, if applicable, an Extended Hearing Panel, or other contemptuous conduct during a proceeding, a Hearing Officer, Hearing Panel or, if applicable, an Extended Hearing Panel, may
