Gareth Lamirand Comment On Regulatory Notice 22-08
Hands off
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.
I oppose restrictions on my right to invest in public investments such as leveraged and inverse funds.
I, not regulators, should be able to choose the public investments that are right for me. Public investments should be available everyone, not just the privileged, or those regulators deem suitable enough.
I do not agree that I should have to go through any special process or pass a test before you can invest in public securities, like leveraged and inverse funds.
I am capable of making my own decisions on the risks and advantages of my investment options.
Do NOT restrict trading these securities. It is unfair to characterize all retail investors as inexperienced/unable to trade knowledgeably.
Dear FINRA, My name is Joshua Barnes, I live in Midland Texas with my wife & daughter. Im a part time retail trader, currently working full time in the energy field, with hopes of self retirement within 15 years. Part of my retirement plan consists of trading all kinds of revenue vehicles, i.e., common stocks, ETFs, stock options, leveraged ETF/ETN, etc. For what its worth, I do recognize the need for FINRAs legal/administrative involvement in retail trading.
Wish to use as a hedge in a portfolio.
I am well educated on the working of the stock market and it's various products, including leveraged and inverse funds. I don't need to pass a test or have the input of regulators on my investment choices. My retirement funds largely come from an annuity product at this time with minimal input of the investments. I use stocks, mutual funds and inverse funds to enhance and/or protect my total portfolio. I'm extremely happy with this process and look forward to use it without interference from the government.
I Work hard for my money and i will invest as I feel inclined.
Please do not further restrict investors ability to buy leveraged ETFs. I already had to sign forms making it clear that I understand the unusual risks of investing in these investments (e.g., TQQQ. TECL, TNA). Anyone buying into these products knows what they are getting themselves into. Please DO NOT try to protect us from ourselves! Thank you for your consideration. -Richard Voss
This is yet another example of regulation overreach, and as always, it will hurt worst the people who are already most disadvantaged. Ill keep investing as I want. I have a high net worth, and Ill pass your tests. Im motivated, educated, and investment savvy. I can continue to get 2-3% more per year through my judicious use of leveraged funds, which when compounded over decades makes an enormous difference in my financial future. Regulation on these funds will limit their benefit to the already privileged, like me. Such regulation is paternalistic.
I want to be able to choose what I invest in and I don't want you to take that right away from me. I previously transferred our money from Vanguard to TDAmeritrade because Vanguard enacted similar regulations barring investing in inverse and/or 3x leveraged funds.