I agree that more regulation is a possibility. One major question for me is whether ALL NON-PROFESSIONALS will be impacted -- not just those with less than $25,000. That is, "little guy" may not be defined by size of trading account, but by professional vs. non-professional status of the trader. Why do I think regulations could move in this direction? First, on another thread, I posted a link to an article that indicates a recent position paper concluded unsophisticated investors harm market efficiency. Don't know who published the paper, but it seems to have enough clout to get the attention of Federal Reserve Vice Chair Roger Ferguson. People who value market efficiency, and seek to protect it, may want to limit the market participation of unsophisticated investors. Here is the link to that article. http://cbs.marketwatch.com/news/sto...}&siteid=mktw Second, the argument can be made that professional vs. non-professional is a less capricious and arbitary criterion for defining "unsophisticated investor" and for barring participation in the market than is account size. Put these (belief that unsophisticated investors harm market efficiency, value of market efficiency, and less arbitary criterion for barring unsophisticated investors) together and you have the possibility of defining "little guy" as all non-professionals. I would rather just trade than deal with all of this-- much, much rather. But, my account is less than $25,000, so I appreciate the power of federal regulations. I was not aware changes were being made that would have such a profound impact on me. Not complaining; I take full responsibility for my unawareness and my inaction. But now I am watching developments more closely because I intend to do all I can to prevent additional laws and regulations that restrict participation in the market. fast _________________________ BTW, I posted another recent article that reports the GAO thinks "investors need warning on online trading risks" and that some Congress members are urging the SEC to take additional actions to protect consumers. I think most of the suggested actions or regulations sound good, but it is possible actions that negatively impact traders will emerge within this movement. Unfortunately the article has expired so I cannot provide a link.