John Lang Comment On Regulatory Notice 22-08
As an individual investor I should have the right to invest on my terms and have NO limitations put on me which would create an unfair advantage for the larger institutions.
For the Public
FINRA Data provides non-commercial use of data, specifically the ability to save data views and create and manage a Bond Watchlist.
For Industry Professionals
Registered representatives can fulfill Continuing Education requirements, view their industry CRD record and perform other compliance tasks.
For Member Firms
Firm compliance professionals can access filings and requests, run reports and submit support tickets.
As an individual investor I should have the right to invest on my terms and have NO limitations put on me which would create an unfair advantage for the larger institutions.
This is about my choice to invest the way I want to.
I've been managing my own investments since 2005. I know what risks I can take.
I use leverage in my current investments. Margin trading, currencies, options, ETF's, etc.
I have a very good broker that acts like a filter when I make an investment. We discuss ideas, my investing rules and the risks in the investment before interring the trade. We also know when I'm going to exit the trade.
It is not regulators' place to decide how I assess risk and where I decide to invest. A leveraged fund is not a threat to the investing population or my investment strategy. It is a part of my strategy, and one I deploy understanding the risks involved. That's my job as an investor to manage. Just like regulators can't keep me from buying a house that's a risky investment, buying a cryptocurrency that's a risky investment, or buying a stock that's a risky investment, it makes no sense that they would preclude me from buying.
To FINRA,
I am writing to express my opposition to the proposed restrictions being considered against investment freedom.
It should be obvious from the last two years that growing regulations serve only to stymie economic growth and empower the few in positions of administrative authority. Please put some trust in the discernment of investors who are working in the markets to benefit their clients.
Leveraged and inverse funds are important for my investment strategy. During pandemic it helped me to reduce losses and after that leveraged funds helped me to recover losses. Please do not take away that from individual investors.
Why would you limit my investment choices. Please keep out of limiting my ability to short the market through ProShares. You are unamerican to even consider limiting my choices/
It is unethical for regulators to step in and prohibit investors from investing, especially after selling of securities from the feds and congress due to unethical reasons. I oppose this and will pursue the actions needed to seek a fair market.
I am opposed to changing the process for which Americans can access leverage funds for two main reasons. One, we have the worlds best economic system and limiting her this system makes no sense in regards to keeping us as leaders are on the world stage. Two, the forms already provided to buyers by brokerages and other companies already clearly delineate the products and potential he uses and consequences of using them. There is no need to add more to them since they are already effective.
I have been trading TQQQ, SQQQ, SCO, ZSL etc. and have invested a lot of my savings in them. I want to continue trading them without restrictions.
I am an individual investor, responsible for investing for my own family and retirement. I'm investing in PUBLIC investment vehicles, that currently are (and should REMAIN) available to any investor, and not just privileged hedge fund managers.
I DO NOT consent to having to take or pass any special exam in order to invest a security, which by definition is an act of risking capital in the hopes of a return. Loss, even total loss, is an inherent risk, as is an infinite return. Neither are likely, but they're possible.