Richard Logan Comment On Regulatory Notice 22-08
The public should have the right to decide what they do and do not invest in. If it were not an appropriate option if would not already exist. Stop any regulation to ban leveraged ETF's.
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The public should have the right to decide what they do and do not invest in. If it were not an appropriate option if would not already exist. Stop any regulation to ban leveraged ETF's.
It is not anybody's responsibility to choose public investments except the investor. It is enough to provide a general warning that all investments involve risk. Many, if not all, trading platforms already require investors to acknowledge that there is additional risk involved with leveraged and inverse funds. No additional regulation is required or wanted.
This mandate appears to be an encroachment upon
FREE ENTERPRSE!!!
Please do not add restrictions. We do not need a nanny state and invest only via your friends. We should be able to buy complex financial products to even the playing field.
I strongly oppose any restrictions on my right to invest in securities. I have bought and sold securities for over 60 years including leveraged and inverse funds. I fully understand the risks involved. I have provided my broker with a statement that I understand the higher risks of training leveraged and inverse funds and I accept the risks. Nothing more is needed. I particularly resent any attempt at limiting training to only the very rich.
I don't need big brother watching over me. Our competitive edge and democracy always gets eroded when government decides to over regulate. It is our money and we should get to decide where we want to invest,
It's my money and I deserve to have the right to do what I want with it; win or lose.
Our country is founded on Freedom guarunteed in the constitution. Any actions by Government outside groups to limit our Freedom of choice or centralize control, represent a degredation of our Freedom. Investing in a free market is a key element of citizen right to freely earn through investments and is no business of the FINRA. I suspect the potential rule is being pushed to protect investors from themselves for not doing their due dilligence. This is an issue for the investor, not a Governing board.
I am taking this opportunity to respond to your potential limitation to using leveraged ETF's. I am a big boy and want to have the ability to use leveraged ETF's. Why is that any different than using margin with stocks. I also understand the contango component of leveraged ETF's. There was a study done by Barron's a few years ago and several leveraged ETF's were at the top of the list even for longer term which disproves the opinion by FINRA that they do not work for the longer term. FINRA is TOTALLY wrong on that assessment.
I've passed the finra series 65 exam and understand the risks of investing in leveraged funds. I only invest my employer match into risky assets and keep my own saving in market funds, this is an unreasonable restriction on retail investors.