Thank you for the opportunity to comment on the proposed changes to "Complex Products" like L&I Funds, etc. Apparently once again the government thinks that all Americans are idiots. Concern that investors may be "confused" by "complex products" - I find this attitude highly offensive. I would very much prefer that you leave
Regulators should not be deciding investment strategies for families. They should be making it easier for these families to invest smaller amounts of money in the market. It's high time all investors regardless of their income be allowed to purchase fractional shares.
They shouldn't be imposing special processes like testing investor knowledge of ETFs but rather guide a
GUIDANCE
SUGGESTED ROUTINGKEY TOPICS
Internal AuditLegal & ComplianceOperationsSenior ManagementSystemsTrading
IM-2110-2Limit OrdersLimit Order ProtectionManning RuleRule 6541
Trading Ahead of Customer Limit Orders
Executive Summary
On February 26, 2007, the Securities and Exchange Commission (SEC) approved amendments to Interpretive Material (IM) 2110-2, Trading Ahead of Customer
08-47 - NASD Rule 3070(c) and Incorporated NYSE Rule 351(d) require all member
firms to report on a quarterly basis statistical information regarding
customer complaints.
I strongly disagree with the notion that more "guardrails" are needed for retail investors dealing in so-called "complex products." While some products are truly complex and require an investment of time for an investor to fully understand their risks and rewards, other products you name--particularly options--are not truly complex or difficult to understand with a modicum of
GUIDANCE
Market Order Protection
Effective Date: January 9, 2006
SUGGESTED ROUTING
KEY TOPICS
Internal Audit
Legal & Compliance
Operations
Senior Management
Systems
Trading
IM-2110-2
Manning Rule
Market Orders
Rule 2111
Executive Summary
In October 2005, NASD issued Notice to Members (NTM) 05-69
informing members of Securities and Exchange Commission (SEC)
WASHINGTON— FINRA and NFA recently held a special summit focused on crypto assets and agreed to expand their Memorandum of Understanding (MOU) to address crypto activities that fall within their respective regulatory mandates.
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