On April 9, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-15 (Notice) in response to the recent increase in the number of customers seeking to open brokerage accounts and trade options.
Continue Reading FINRA Reminds Members About Options Account Approval, Supervision and Margin Requirements
Options Clearing Corporation
SEC Approves New Supplement to Options Disclosure Document
By Michael T. Foley & Stanley V. Polit on
Posted in Broker-Dealer
On November 9, the Securities and Exchange Commission approved a new supplement (Supplement) to the Characteristics & Risks of Standardized Options, also known as the options disclosure document (ODD), published by the Options Clearing Corporation (OCC). The ODD provides general disclosures regarding the characteristics and risks of exchange traded options. Generally, broker-dealers must provide a customer with a copy of the ODD before accepting options orders from that customer.
Continue Reading SEC Approves New Supplement to Options Disclosure Document