Content deleted Content added
→Round trip: More accurate Tags: Mobile edit Mobile web edit |
→History: We've been talking about FINRA for ages at this point Tags: Mobile edit Mobile web edit |
||
Line 39:
==History==
Requirements for the entry of day trading orders by means of "pattern day trader" amendments: On February 27, 2001, the Securities and Exchange Commission (SEC) approved amendments to NASD Rule 2520 relating to margin requirements for day traders. The NASD amendments to Rule 2520 became effective on September 28, 2001, while the NYSE amendments to Rule 431, which are substantially similar, [https://www.nyse.com/pdfs/im01-9Microsoft%20Word%20-%20Document%20in%2001-9.pdf information memo from NYSE] became effective August 27, 2001. Effective December 2, 2010, the NASD rule was revised, renumbered and incorporated into the FINRA Rule book. FINRA was formed by the [[merger]] of NASD Regulation and NYSE Regulation in July 2007. The SEC approved the formation of FINRA as a new SRO to be a successor to NASD Regulation and the enforcement and arbitration functions of the New York Stock Exchange
==Rationale==
| |||