New press release: Investors need warning on online trading risks - GAO
http://biz.yahoo.com/rf/010806/n06219061.html
While I agree investors need some of the information discussed in this article, such as consistent data regarding system outages and delays of specific brokers, I also think we are being overprotected with the new SEC daytrading rules for investors with less than $25,000 in their accounts (a topic which is being discussed in other threads on this site, but not explicitly mentioned in this press release).
Interestingly, this press release mentions the names of three representatives in the following paragraph:
"The GAO found that regulators have taken substantial action to enhance investor protections but deficiencies remain and further steps are needed. We agree,'' Reps. John Dingell, Edolphus Towns and Edward Markey said in a letter."
Evidently these three representatives have special interest in SEC regulations for individual investors. I wanted to mention this in case anyone is contacting Congress members about individual investor issues now or in the future.
fast
http://biz.yahoo.com/rf/010806/n06219061.html
While I agree investors need some of the information discussed in this article, such as consistent data regarding system outages and delays of specific brokers, I also think we are being overprotected with the new SEC daytrading rules for investors with less than $25,000 in their accounts (a topic which is being discussed in other threads on this site, but not explicitly mentioned in this press release).
Interestingly, this press release mentions the names of three representatives in the following paragraph:
"The GAO found that regulators have taken substantial action to enhance investor protections but deficiencies remain and further steps are needed. We agree,'' Reps. John Dingell, Edolphus Towns and Edward Markey said in a letter."
Evidently these three representatives have special interest in SEC regulations for individual investors. I wanted to mention this in case anyone is contacting Congress members about individual investor issues now or in the future.
fast