March 16, 2004
The Confirmation sheet is still too detailed and will probably not be read by most investors, especially since it is issued after the sale. On the other hand, the format for the Point of Sale sheet is much clearer, more concise and more understandable, and being issued before any sale, would be much more effective and useful.
Why use such an odd number, such as 8,000, in the example for the amount paid/received? An invester will need a calculator to understand and relate the different percentages to actual amounts. Why not use 1,000 or 10,000 so that a calculator would not be necessary to figure these percentages and actual amounts?
Why use such a clumsy broker name, such as AAA Introductory, Inc., in the example?
Why not include a statement that the broker has committed to not allow market timing or any other improper trading, if this is the case?
Why not design your email system so that it accepts parentheses, dollar signs, etc. like everybody else?