Has anyone heard of an impending sec decree which will ban married puts(bullets) and conversions?......what do you think the impact on the markets will be if this sad, sad, trader-hostile edict is enacted? I can't really see any bright side other than the possibility of more orderly and possibly bullish markets, but i believe more likely than not, the result will be a further erosion of volatility and much less opportunities for day traders. I also think more traders would turn to nasdaq, as the nyse has become more and more archaic, and anti-competitive (see also ridiculous "5 cent rule"). Thanks in advance for any input. grimer11
from SEC Digest: OPEN MEETING - WEDNESDAY, OCTOBER 22, 2003 - 10:00 A.M. The subject matter of the open meeting scheduled for Wednesday, October 22, be: 1. The Commission will consider whether to propose new Rule 15a-5 under the Investment Company Act of 1940 (Investment Company Act). Proposed Rule 15a-5 would permit an investment adviser to manage an open-end investment company's (fund) assets without approval by fund shareholders, under certain conditions. The Commission also will consider whether to amend Form N-1A under the Investment Company Act and the Securities Act of 1933. The recommended amendments would include a requirement that any fund operating under the exemption in proposed Rule 15a-5 disclose that investment advisers may be hired without shareholder approval. For further information, please contact Adam B. Glazer at (202) 942- 0690. 2. The Commission will consider whether to adopt amendments to Rule 10b-18 (the safe harbor rule regarding issuer repurchases) under the Securities Exchange Act of 1934 (Exchange Act), and amendments to Regulations S-K and S-B under the Exchange Act, and Exchange Act Forms 10-Q, 10-QSB, 10-K, 10-KSB, 20-F (regarding foreign private issuers), and Form N-CSR under the Exchange Act and the Investment Company Act of 1940 that would require periodic disclosure of all issuer repurchases of equity securities, regardless of whether the repurchases are effected in accordance with Rule 10b-18. For further information, please contact Joan Collopy or Elizabeth Sandoe at (202) 942-0772. 3. Proposed Regulation SHO The Commission will consider whether to propose for public comment new Regulation SHO regulating short sales under the Securities Exchange of 1934, which would replace current Rules 3b-3, 10a-1 and 10a-2. Among other things, Regulation SHO would institute a new uniform bid test, applicable to exchange-listed and Nasdaq National Market System securities, that would allow short sales to be effected at a price above the consolidated best bid. Regulation SHO would also suspend the operation of the proposed bid test for specified highly liquid securities on a two-year pilot basis. Regulation SHO would also require short sellers in all equity securities to locate securities to borrow before selling short, and add further requirements to address "naked" short selling. The Commission will also consider simultaneously whether to propose for public comment amendments to Rule 105 of Regulation M, which addresses short sales prior to a public offering, to eliminate the shelf offering exception and to address transactions designed to evade the Rule. Commission Guidance on Rule 3b-3 and Married Put Transactions <b>Finally, the Commission will also consider whether to publish simultaneously an interpretive release providing all market participants with guidance regarding the use of married put transactions when aggregating positions under Rule 3b-3 for determining compliance with Rule 10a-1 and Rule 105 of Regulation M. </b> For further information, please contact Kevin Campion or Greg Dumark at (202) 942-0772. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 942-7070. http://www.sec.gov/news/digest/dig101603.txt
what genius at sec wrote this paragraph? "Finally, the Commission will also consider whether to publish simultaneously an interpretive release providing all market participants with guidance regarding the use of married put transactions when aggregating positions under Rule 3b-3 for determining compliance with Rule 10a-1 and Rule 105 of Regulation M. " it dosent sound to me like their gonna abolish married puts
you're an idiot who adds nothing and should probably begin preparing to take and fail the civil servants exam. grimer11
And how did THIS post add anything? Let people post whatever they want - don't like it don't read it. Your post had less value than Ignorant's - his humor, while banal, was better - urs is simply bitter.
hahah....... have arrived on this board just like idiots on stock message boards. quality of elite trader board get only be downhill in future