Nancy Tengler - New Era Value Investing (Wiley-2003) (pdf)

On February 27, 2001, the Securi- ties and Exchange Commission (SEC) approved amendments to National Association of Securities Dealers, Inc. (NASD®) Rule 2520 relating to margin requirements for day traders (the “amendments”). 1 The amendments become effec- tive on September 28, 2001 and are substantially similar to amend- ments by the New York Stock Exchange (NYSE) to its margin rules. 2