Executive Summary
On February 27, 2001, the Securities and Exchange Commission (SEC) approved amendments to National Association of Securities Dealers, Inc. (NASD®) Rule 2520 relating to margin requirements for day traders (the "amendments").1 The amendments become effective on September 28, 2001 and are substantially similar to amendments by the New York Stock Exchange (NYSE) to its
(a) Requirements for Participation in Certain Public Offerings
No member that has a conflict of interest may participate in a public offering unless the offering complies with subparagraph (1) or (2).
(1) There must be prominent disclosure of the nature of the conflict of interest in the prospectus, offering circular or similar document for the public offering, and one of the following
TO: All NASD Members and Other Interested Persons
On January 29, 1986, a new Section 12 to Schedule A of the NASD By-Laws became effective, as announced in SEC Release No. 34-22861, dated February 4, 1986. The rule establishes a $500 fee to be paid in connection with application for registration in the securities industry by individuals subject to a disqualification pursuant to Article II,
It seems there are a lot of rules and guidelines already in place to ensure a fair stock market for the hedge funds and retail investors. But none of these seem to be enforced, so what the point? You look the other way why the market is grossly manipulated, and the little man suffers... is that the new American way? -Michael C.
Please stop the corruption and stop letting big money and the market makers manipulate the system to their favor. I realize long ago, America was an oligarchy controlled by the rich. The shades have been pulled back and the world is watching. Please make the big guys adhere to the rules that retail has to follow.
As a retail investor, who has been actively trading in the last 2 years and these regulations are very much targeted at, I do not agree with the proposed rule/guidance changes. FINRA has already placed many barriers to retail investors in the form of PDT rules, $25k capital requirements, etc. At no point in my journey as a new trader have I felt that the restrictions benefitted me or protected me
The federal government is not suppose to guide, steer and steal the hard earned money from U.S. citizens. The Constitution and our forefathers warned its citizens AND wrote LAWS with stringent views against Big Government. Our states are to determine certain rules and regulations. We do NOT want your red Socialist tape, hidden agendas and under the table deals from greedy, self serving
Qualified investors (current status) should be allowed to invest in a variety of products including inverse and leveraged funds -- This is like call or put options--to maximize their opportunity. We should be made aware of the risks (current status), and enjoy the gains or suffer the losses.
You need to end Congressional exemption from insider trader rules before addressing inverse and leveraged
I oppose thr proposed rule. I want to be able to choose the public investments that are right for you and your family. Public investments should be available to all of the public, not just the privileged. I shouldn't have to go through any special process like passing a test before you can invest in public securities, like leveraged and inverse funds. Leveraged and inverse funds are
I want to state me displeasure at your attempt to limit my investing in leveraged or inverse funds. I know the risks involved in this type of investment. One of the risks was not the government stepping in and potentially making my current investments plummet in value.
There would be so many rules involved I would have an extremely tough time selling my shares, plus I want to leave open the
