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49 Am. U. L. Rev. 1089 (1999-2000)
Online Trading and the National Association of Securities Dealers' Suitability Rule: Are Online Investors Adequately Protected

handle is hein.journals/aulr49 and id is 1105 raw text is: COMMENTS ONLINE TRADING AND THE NATIONAL ASSOCIATION OF SECURITIES DEALERS' SUITABILITY RULE: ARE ONLINE INVESTORS ADEQUATELY PROTECTED? RENEE BARNETT* TABLE OF CONTENTS Introduction ...................................................................................... 1090 I. Background of Online Trading and Suitability Obligations 1095 A. The Explosive Growth of Online Trading ...................... 1095 B. Online Trading versus Day-Trading: Distinguishing Betveen Two Different Types of Investment Activities. 1098 C. Suitability Obligations Under NASD and NYSE Rules .. 1100 D. Suitability Doctrine Enforcement Mechanisms: Arbitration's Affect on Consumer Protection ................ 1103 E. Online Suitability ............................................................. 1106 II. Online Brokers and Suitability Obligations: Is There a Need for Regulators to do More to Protect Online Investors? ................................................................................. 1106 A. The Type of Investor that Online Trading Attracts ....... 1108 B. Online Brokers' Aggressive Advertising Campaigns ...... 1110 C. Online Brokers' Websites: What Should Constitute a Recommendation Under NASD 2310? ........................... 1113 D. Personalized Investment Research ................................. 1116 Senior Note and Comment Editor, American University Law Review, Volume 50; J.D. Candidate, May 2001, American University, Washington College of Lau, B.S., 1998, Wake Forest University, cum laude Special thanks to my parents, Evan andJoanne Barnett, and to Mike Bomba for their love and encouragement. I would like to thank my friends and the staff of the American University Law Review for their support. I am also grateful to Professor Mary Siegel for her help on later drafts. 1089

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