Mike Field Comment On Regulatory Notice 22-08
i am against the passage of regulations that could create restrictions on investment in leveraged and inverse funds and etfs.
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i am against the passage of regulations that could create restrictions on investment in leveraged and inverse funds and etfs.
People should be left to invest how they feel would be best for their family and themselves. Just disclose the risks In the prospectus. Let's keep our investment platforms Open to the public and give everyone the same right and chance to build a retirement or invest and save money as the wealthy or the acredited.
It has come to my attention that FINRA is considering further regulating certain leveraged and inverse ETF funds by placing additional requirements on who may trade them. As someone who has traded in stocks, bonds, mutual funds and ETFs for nearly 30 years for my own portfolio and 3 years as a Series 6 and 63 Registered Representative, I oppose such a restrictive move as a dangerous overreach by this governing body. I engage in using these types of funds regularly as part of my investment portfolio, and will continue to oppose this move. Thank you for your time and consideration.
I oppose the move
I, like virtually any investor, want the maximum flexibility in what I trade and how I trade. More meddlesome regulatory interference only hinders the ability to trade freely. All investors should have the ability to trade leveraged ETFs and like products free of unnecessary regulatory restrictions.
I wish to continue to have the freedom and flexibility to invest my money as I see fit. Disclosures are already provided on the risks of levered investment products and our education system thankfully teaches every American how to read. If I were an accredited investor I wouldn't NEED to take above average risk for a potential above average return.
This would further increase inequality through a lack of options for those that aren't high net worth individuals.
Please reconsider reducing access to leveraged and inverse funds. Although volatile, they should remain available to small investors such as myself.
As a retiree and a widow, I have been able to make the best choices for a decent life in my years ahead. Those choices are critical to my health and my financial independence. I consult with knowledgeable advisors who have explained clearly to me the importance, for me, of public investments like leveraged and inverse funds. Please don't obstruct that part of my independence.
Please don't restrict me from making MY choices.
I use the leverage etfs to cover the 3 days I would need in some cases for funds available. In other words I use a method that follows the trend and goes long and short depending current conditions. So I use a double and double inverse at 50% of my total amount to get the same effect of go full size long and short. If it was not for these funds I would not be able to do this in my small account. I have been doing this for 20 years.