SIA Submits Comments to the SEC on Proposed Margin Requirements for Day-Trading Customers
Published on:
March 14, 2000
The Discount Brokerage Committee and the Ad hoc Committee on Technology and Regulation of the Securities Industry Association (SIA)* provide comments to the Securities and Exchange Commission(SEC) on proposed amendments toNational Association of Securities Dealers, Inc (NASD) Rule 2520, Margin Requirements for Day Trading Customers, Securities Exchange Act Release No. 34-42418; File No. SR-NASD-00-03. While SIA supports tightening the margin rules, the proposed rule change should be revised to ensure all firms are not unduly burdened by unrealistic and unworkable margin compliance requirements.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.