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2019062311702 Torch Securities LLC CRD 133642 AWC lp (2022-1654474821566).pdf

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2019062311702 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Torch Securities, LLC (Respondent) Member Firm CRD No. 133642 Pursuant to FINRA Rule 9216, Respondent Torch Securities, LLC submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

Weston Davis Comment On Regulatory Notice 22-08

This proposed regulation is backwards. Restricting the individual on their financial choices through regulation will only hurt individual investors and benefit wealth or institutional investors. These regulations stink of the wealthy and large institutional investors attempting to protect the market from retail investors. They thought for a long time that they held a monopoly on investment power and could make the markets go their way at their will. The retail investor shook them to the core and showed how little power they really have.

David Schwartz Comment On Regulatory Notice 22-08

It should be up to individual investors to decide for themselves whether a particular product is appropriate for them to invest in. Having the inability to invest in complex funds or ETFs would limit me to actually beat the market . . . which it is why I use them as part of my investment strategy. Having to go through a special process in order to invest in such funds is like taking a test in order to drive a car. No one that I see on the road obeys the speed limit OR even Stops at a stop sign completely.

Walter Davis Comment On Regulatory Notice 22-08

As a 91 yr-old with over 70 years of experience in the Securities Markets__15 of those years as a Registered Broker__I have witnessed countless examples of inept actions by Big Govt. "Hedge Fund" connotes dodgy transac- tions in the view of most. And yet the basic strategy's been used with commodities, insurance and debt securities for 100's of years to REDUCE "risk". Competent "risk analysis" is very rare__especially in Big Govt.