SIA Submits Comments to the NASDR on Margin Rules for Day Traders
Published on:
October 26, 2000
The Securities Industry Association (SIA)* provides comments to the National Association of Securities Dealers Regulation, Inc. (NASDR) on NASDR and New York Stock Exchange (NYSE) margin rules for day traders. SIA does not believe that the current version of the rule is appropriately tailored to the scope of concern as identified by the Government Accounting Office (GAO) and the Securities and Exchange Commission (SEC). In addition, SIA believes the rule will impose operational and compliance burdens on firms.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.