GUIDANCEArbitration Chairperson SelectionEffective Date: September 17, 2004SUGGESTED ROUTINGKEY TOPICSLegal & ComplianceArbitrationArbitratorsDispute ResolutionExecutive SummaryThe Securities and Exchange Commission has approved amendments to Rule 10308 of the NASD Code of Arbitration Procedure to reduce the time allotted for the selection of a chairperson in an arbitration
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Executive Summary
On March 6, 1998, the Securities and Exchange Commission (SEC) approved new National Association of Securities Dealers, Inc. (NASD® or Association) Rules 6950 through 6957 (Rules), which establish an Order Audit Trail SystemSM (
First of all, no one can prevent a fool from squandering his/her money. You may block a few ways, but he/she will find another way to lose it.
By restricting investments, you prevent people the opportunity to grow their wealth on their own and force them to go to mutual fund managers who charge exorbitant fees.
In taxable accounts, I can trade options that allow to make money in bull markets,
I oppose restrictions or regulations that inhibit my investment choices. I intentionally choose leveraged or inverse funds as a part of my portfolio. I want to be able to buy or sell those funds at any time of my choosing. These funds have risks like other funds or stocks. We don't know the future. But we all have our own hunches as to what might happen. Noone should have the right to make
Frankly I dont understand the rationale behind this suggested change. I am definitely a small investor. Under my 401k rules I am prohibited from shorting stocks, nor may I purchase put options. The only methods through which I can possess some ability to protect myself in an all out bear market is /was through these equities.
If this suggested change becomes a reality I (and many others) will
FINRA's entire concept of restrictions for leveraged and inverse funds and dozens of other popular investments deemed to be complex is totally un-American and smacks of nannyism at its worse.
No one is forced to make any of these investments and some people are more risk averse than others. Investors should know their own limits.
Sports betting or casino gambling have risks too, but no
I am fully capable of choosing the investments appropriate for my situation. I should have the right to invest and take risk in anything legal investment that I see fit. It is my risk, no FINRA or anyone else's risk. Anyone investing knows they are taking the risk to lose some or all of their capital. We do not need special processes or tests to take. I already signed documents with my
Not allowing citizens the ability to invest in inverse or leveraged funds based on that person's net worth or specialize skill is unfair and unwise. I would be unable to hedge my investments in rocky times. Rather than protecting investors from potential losses, these rules would subject them to unnecessary losses. These regulations would not help the average investor and more than
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Default Decisions
NASD Regulation Modifies Default Decision Procedures
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The Suggested Routing function is meant to aid the reader of this document. Each NASD member firm should consider the
