Georges Bassous Comment On Regulatory Notice 22-08
Against this rule
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.
Against this rule
I rely on triple leveraged ETFs for my investment needs. It satisfies a need that no other equity can do. It would hurt me incredibly if they were to change from what they are now. Please do not change this incredible tool. Thank you for your time.
To whom it may concern:
I am deeply concerned with the proposed regulation on leveraged exchange-traded funds, which would limit access or place undue burden on retail investors. Leveraged exchange traded funds are an important part of my personal retirement strategy, and without access to them, I fear that retirement will become more difficult to achieve. I use these leveraged ETFs to effectively increase my portfolio returns and make retirement more achievable.
I vehemently protest against any restriction to my using inverse or leveraged EFTs. I have been using these for years through market ups and downs and wish to continue using them. I agree that they should be used by investors that understand them. I think they are very useful vehicles.
Everyone should be able to invest in all products.
I have been investing in leveraged and inverse funds for well over a decade and am very happy with my results. I do not believe I need to take a test so that I can invest in these funds nor do I believe one should have millions of dollars before being allowed to use these instruments. They are important to my overall investment strategy in order to enhance my returns as well as to hedge other investments during times when the market is uncertain in its direction. There should not be restrictions on investors for using these funds.
Please quit treating investors as not competent to make investing decisions. Current government regulations do more to inhibit and potentially screw individual investors that protect them. Drop the nanny state overly restrictive regulations.
I am a small-time, retail trader/investor. I regularly use and understand leveraged and inverse funds and use those to manage risk and on occasion to speculate. I do NOT feel that it is a regulator's responsibility to limit my choices when it comes to investing. Nor do I have the time or desire to jump through hoops to comply with imposed restrictions. If someone doesn't understand those types of funds it is their responsibility not to use them, not your responsibility to remove their ability to use them.
I believe it is my choice to invest in the items I deem safe not that of congress to do so for me. Inverse funds have warnings that are sufficient
Anyone should be able to invest in anything they wish. The government has inside info and invest.