Under the regulatory regime for Financial Advisers Act, churning of investment products is illegal unless the financial adviser can show it is beneficial that the new product to be bought and that any financial lost is justified. But does anyone know that churning is officially allow when comes to stock?

I have a stock brokerage account. Everyday I am spamed with emails telling me it is time to buy XYZ stocks or to sell ABC stock. In securities newsletter like Edge, you can see broker telling me to "Buy", "Hold", "Sell". Hello, how come they can tell people to buy or sell without even knowing the investor? If the investment product is bought from a financial adviser (under the FAA), the FA Rep would lose his license for telling people to churn like this. I was told that unit trust is meant for mid to long term and hence such frequent trade is churning but stocks are for short term and so frequent buy/sell trade is OK. This is nonsense. Stocks are for long term too. I have talk to many successful stock investors – and they told me that after they have done their research in the company, they just buy and hold on forever. Amazing? Why is it do we get spam to buy/sell shares if we open a brokerage account? It is because the brokerage house earns through brokerage fee. Brokerage fee only occurs when a trade is made. For buy and hold person, there is no brokerage fee. I think MAS must do something about these official churning spam mails. But whom do I feedback this too?