Rene Gurrola Comment On Regulatory Notice 22-08
Please do not limit my options trading. I understand the risks involved and should be allowed to make the decision on how much risk I am willing to accept.
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.
Please do not limit my options trading. I understand the risks involved and should be allowed to make the decision on how much risk I am willing to accept.
These ETFs provides a comprehensible way for small accounts to invest or hedge certain sections effectively. The underlying risk needs to be made known rather than prohibited small accounts to use these ETFs.
I, the investor, and not you, the regulators, should be the one to choose the public investments that are right for me.
This is a matter of basic principle, and therefore of first importance: PUBLIC investments should be available to ALL the public, not just the privileged, who are already more than privileged enough.
What you propose is part of an insulting trend: the "Nanny State" deciding it knows best and should protect us stupid rubes from ourselves. This has no place in what one hopes is still a free country.
I strongly oppose these restrictions. I am far more capable than the marginally competent federal regulators at assessing risk and allocations. Leave me alone!
The purpose of restricting individual investors to purchase leverage ETFs by FINRA is questionable since my stock broker, Fidelity, already informs investors volatility and risks of losing capital seriously. Those who are trading leveraged ETFs are well aware of the consequences and ready to be responsible for high market volatility. In reality, most of novice individual traders don't know what leverage ETFs are. Some of leveraged ETFs with underlying indexes such as S&P 500 and NASDAQ 100 provide exceptional capital diversification among the top-class companies in the world.
Dear sirs, I am a retired financial advisor and former certified financial planner and I bought the proshares cryptocurrency fund as part of a diversified investment strategy. If you're not feel that I should be restricted when it comes to Alternative Investments for my long-term investment goals.
I fully believe it is the freedom of the individual to choose what they want to invest their hard earned money into. The responsibility of each investor is to do their own research and accumulate knowledge on how certain market products work. I fully support the right to invest in leveraged and inverse funds and so should you.
Along with my equity trading, I have used several of these L & I funds for several years as marked situation presented itself. So I strongly object to limit me from trading in these funds.
Dear Regulator,
Please respect my right to invest my money however I chose fit. There should be no special process regarding investments in leveraged or inverse funds. Thank you for respecting my freedom to utilize leveraged and inverse funds as part of my investment strategy.
It poses a severe threat towards market fairness. It's like locking people in home because of Flu, but except the rich ones. All retail traders or investors should be able to freely choose whatever products that fit their trading strategies.
Finance is NOT only for the rich or the privileged. Raising the bars limits our capabilities. We know what leveraged or inverse funds are. Also, the liquidity will be severely affected if passed.