Bradley K. Skolnik, President of the North American Securities Administrators Association (NASAA) & Indiana Securities Commissioner, released the following statement in response to the proposed rule changes by the NYSE and the NASD that would raise margin requirements for day traders:

"NASAA supports higher margin requirements for day traders. Day trading is a risky behavior and higher margin requirements may help reduce potential losses. NASAA endorses the rule proposals and urges the SEC to approve them."