Jim,
I don't think it's the SEC that is changing margin requirements. I check the Schwab web site, and got the following
" In response to the recent volatility of certain stocks, the margin
maintenance requirements for 25 NASDAQ Internet stocks were
changed on December 3, 1998. In addition, effective January 7,
1999, 19 additional stocks were added to the list. Effective January
19, 1999 31 additional stocks were added to the list. The 75
NASDAQ stocks listed below are now subject to a 50%
maintenance requirement.
Margin requirements are set by the rules and regulations of the
New York Stock Exchange, the American Stock Exchange and other
regulatory agencies under whose jurisdiction we are subject; and
according to our sole discretion and judgment. Maintenance
requirements may change without notice.
Before the 19th, ATHM was not on the list... it is now. I do now. Also notice that the list has increased from 25 to 75 stocks with a 50% margin requirements, not the 100% required by Waterhouse.
Ted |
