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SUGGESTED ROUTING*
Senior Management
Legal & Compliance
Operations
Registration
*These are suggested departments only. Others may be appropriate for your firm.
REQUEST FOR COMMENT
EXECUTIVE SUMMARY
The NASD requests comment on proposed amendments to Article IV, Section 3 of
I don't believe FINRA even has the capabilities to create a fair and free market as what we have is the literal opposite. If you do, no one has seen it. Synthetic shares are created by the millions with no regulation or repercussion. Shares are traded in dark pools by market makers, then shorted in lit pools to crippled and drive down the price of stocks for market makers and institutions
Short selling, as a tool was intended to hit back at corporations that were found to be cooking the books. Unfortunately, today it is a tool with nefarious intention with no regard for the impact it might have have on an otherwise good company, it's entire employee base and downstream jobs it involves itself in. As one who has managed portfolios and also invests privately it has never been
1. T+0 settlement 2. Market Makers cannot be hedge funds. 3. Stock in hand rule ie short seller must have found and received stock before it can be shorted. 4. Public list of every entity which short sells a stock. 5. Maintenance requirement to short a stock to be cash only with zero marginable securities used as collateral. 6. Fine for Naked Short Selling enhanced to 1000% of stock's value
I request the following to be taken into consideration for addition to the proposed rule change: - Short positions held by market makers should require enhanced reporting. In addition, anytime an options contract is opened by a MM well below market value for the stock, the time of trade and involved party should be reported. - Incorporate ETF short interest in reporting requirements. - Require
SUGGESTED ROUTING
Senior ManagementCorporate FinanceInstitutionalLegal & ComplianceMunicipalOperationsSystemsTrading
As of October 31, 1994, the following bonds were added to the Fixed Income Pricing System (FIPSSM). These bonds are not subject to mandatory quotation:
Symbol
Name
Coupon
Maturity
HRVD.GA
Harvard Inds., Inc.
12.000
7/15/04
HLST.GA
Hills Stores Co.
10.
In January 2003, NASD’s Advertising Regulation Department contacted 64 NASD member firms to determine their level of compliance with the NASD and SEC rules that govern advertisements and sales literature for hedge funds and funds of hedge funds. Twenty-five firms responded that they had not used such communications during the subject time period. Thirty-nine firms responded with submissions of
The Nasdaq Stock MarketSM and the securities exchanges will be closed on Monday, May 27, 1996, in observance of Memorial Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule:
Trade Date
Settlement Date
Reg. T Date *
May 21
May 24
May 29
22
28
30
23
29
31
24
30
June 3
27
Markets Closed
—
28
31
4
* Pursuant
The Nasdaq Stock MarketSM and the securities exchanges will be closed on Monday, February 19, 1996, in observance of Presidents' Day, "Regular way" transactions made on the business days noted below will be subject to the following schedule:
Trade Date
Settlement Date
Reg. T Date*
Feb. 12
Feb. 15
Feb. 20
13
16
21
14
20
22
15
21
23
16
22
26
19
Markets Closed
—
20
23
