Joshua Holcombe Comment On Regulatory Notice 22-08
I want a free and fair market in which I may choose my own risk and investment strategies. You should not be able to tell me what I can and can't invest in.
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I want a free and fair market in which I may choose my own risk and investment strategies. You should not be able to tell me what I can and can't invest in.
I don't believe that it should be necessary to have any sort of 'test' or other requirements to invest in leveraged funds. While there are risks, potentially substantial, the bulk of brokers require today that you sign a statement understanding the risks of leveraged investing.
Please do not restrict the options I have for investment purposes. I am able to manage the positions and companies provide instructions on how to use the financial tools.
I would like to comment on the rule to limit access for retail investors to "complex" instruments. As an infrequent trader, I understand the risk involved in investing. Those were clearly explained by online brokers I use and reinforced by all the research I've done and many years of trading I have. That said, leveraged and inverse funds are important tools that help hedge risks during the time of economic uncertainty, like those that we are going through in the last few years.
I oppose restrictions.
I not regulators should be able to choose the public
investments that are right for me. Public investments should be available to all of the public.
I shouldn't have to go through any special process
like passing a test before you can invest in public securities, like leveraged and inverse funds. I am
capable of understanding leveraged and inverse funds
and their risks
I have been using leveraged etfs for 15 years now. I use them so I don't have to buy or sell the S&P 500 index known as the spy using much more of my trading account. Please do not limit my current freedom to invest in public securities of my choosing.
To whom it may concern.
I believe that current FINRA regulations are sufficient, if followed by investors, to protect investors from investing without knowledge of the specifications of various investments, including such investments that might be inverse in nature and/or leveraged.
The investor always has the choice to use a broker who is supposed to act in a fiduciary manner.
Please reconsider your proposal to limit access to leveraged and inverse funds. Many brokers do not allow shorting in IRAs hence a good alternative is the use of inverse and leveraged funds to allow an investor to hedge and protect a portfolio.
I strongly object to limiting my ability to invest in leveraged securities.