On behalf of NASD, I would like to thank Chairman Sarbanes, Ranking Member Gramm, and the members of the Senate Banking Committee for this opportunity to testify.
INFORMATIONALTrade Reporting and Compliance Engine (TRACE)SUGGESTED ROUTINGKEY TOPICSLegal & ComplianceOperationsSenior ManagementIT ManagementDebt SecuritiesTrade Reporting and Compliance Engine (TRACE)Rule 7010(k)Executive SummaryThe TRACE system became effective on July 1, 2002. Since that time the TRACE fee structure has been operating under a pilot program approved by the SEC that
1) Market maker cannot run their hedge funds : They have huge conflict of interest in their actions as market maker. 2) Mandatory short interest and long interest on weekly basis 3)US to adopt a settlement discipline regime (like EU's CSDR), which would reverse failed trades and suspend market participants who repeatedly fail to deliver shares sold 4) Acting on current rules diligently. 5)
More frequent public reporting of short positions is needed, more detail in public reports, and more transparency for the retail investor. The markets have become a corrupt and lopsided playing field that caters to big money and leaves the retail investor at a decided disadvantage. Hedge funds play by a different set of rules, and then get slapped on the wrist for the kinds of illegal activities
It is in the best interest of all participants invested in the stock market to have potentially influential information when making important, calculated, and delicate financial decisions. With additions made to FINRA's short sale reporting program, specifically the procedures as instructed by Rule 4560, a gob of data can capture the eyes of all investors to help make better informed
<p>Applicability of Rule 3230(a) to secondary or sub-clearing arrangements with foreign securities firms.<br/><br/></p>
TO: All NASD Members and Other Interested Persons
LAST DATE FOR COMMENT: MAY 25, 1986
The Board of Governors of the National Association of Securities Dealers, Inc. (NASD), is seeking comments on a proposed amendment to Article III, Section 19(f) of the NASD Rules of Fair Practice, which would, under certain circumstances, allow performance-type fees. Section 19(f) generally prohibits members or
Executive SummaryOn October 1, 2004, the Securities and Exchange Commission (SEC or Commission) approved an NASD rule filing amending the Trading Activity Fee (TAF) to reduce the TAF rate for covered equity securities, reduce the maximum per trade charge on covered equity securities, and assess the TAF on corporate debt securities that, under the Trade Reporting and Compliance Engine (TRACE)
As a retail investor with over 15 years experience, I would like to urge FINRA to enact, with all haste, any and all new rules or amendments that make the American market more transparent and fair for all investors. For far too long the majority of investors have been in the dark in regards to short interest, robbing us of the ability to make informed decisions while researching and deciding on
I cannot believe in the "greatest country in the world" we have to comment on whether transparency on the very thing that provides a backbone for the world economy is a good idea. ALL information regarding what occurs on our markets should be readily accessible by everyone. Having a select few entities control all of the information is the definition of an oligarchy in a world where
