SEC Approves Rule Requiring Members’ Websites to Include a Readily Apparent Reference and Hyperlink to BrokerCheck
WASHINGTON—FINRA’s Board of Governors met June 4-5. The Board approved two rule proposals, approved the appointments of new Advisory Committee members, met with Securities and Exchange Commission (SEC) Commissioner Mark Uyeda, and received updates on FINRA’s long-term financial planning and FINRA’s enterprise risk management and cybersecurity program.
Exchange-traded products (ETPs) are a popular way to invest, with thousands of different products available to target almost every imaginable investment objective, but it’s important to remember that not all ETPs are the same. Leveraged and inverse ETPs are complex investments that come with a unique set of risks.
I strongly subject to regulators determining how and where I should be allowed to invest my own money. I have 4 college degrees, 2 bachelor degrees 2 masters degrees including an MBA. I run $100 million multi state company managing an endowment in excess of $50 million. It doesnt seem necessary or appropriate for regulators to make a blanket determination that personal investors should be
1. What specific FINRA rules should be a focus for modernization based on their economic costs and benefits; changes in markets, products, services, or technology; or otherwise? What groups of FINRA requirements should be a focus? Please include FINRA rules that may be mandated or derived from a statutory or other non-FINRA regulatory requirement applicable to FINRA or its members.FINRA Rule 3210
FINRA Requests Comment on Proposed Amendments to Its Membership Application Program to Incentivize Payment of Arbitration Awards
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Money laundering is not a new issue for the securities industry. In fact, it has been listed in every FINRA annual regulatory priorities letter issued over the past 11 years. Many of the issues we've focused on over the years remain areas of focus in 2016. For example, we've addressed risk on many occasions. In 2009, we reminded firms to ensure
Comments on Pattern Day Trader RequirementsA lot has changed since the day trading rule went into effect. Settlement is now one business day, commissions have gone to zero at many firms, volumes have exploded. All these factors are in favor of relaxing the day trading rule and eliminating some of its provisions.There is no evidence to suggest that it is riskier to close a trade in five minutes
Disclosure of risks of day trading should be enough. The $25K limit during volatile mark-to-market accounting causing my $25K risk trading account to occasionally hit the minimum equity call even though I never trade outside the cash available in my trading account. The margin portion of my account is needed for trading more complex option strategies which limit my exposure. This rule
We selected the topics in this Report for their interest to the largest number of firms; consequently, they may include areas that are not relevant to an individual firm and omit other areas that are applicable.FINRA advises each firm to review the Report and consider incorporating relevant elements into its compliance program in a manner tailored to the firm’s activities and
