Richard Coleman Comment On Regulatory Notice 22-08
I am 100% against this proposed measure
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I am 100% against this proposed measure
Small investors don't have the knowledge or ability to short stocks or invest in complex option strategies. Inverse funds are an important and simple way for small investors to hedge against loss.
We are well aware of the risks.We don't need regulators making decisions for us.
L&I funds are used by small investors to level the playing field against large investment firms who use similar instruments to move the market in directions that are counter to publicly traded firms actual performance The idea that small investors should be prevented from using these tools while big money uses them daily to sap the market of legitimate gains is another example wrong thinking. An onerous process to qualify for their use in retail trading firms and their investors is simply not warranted.
I should not have to go through a list of regulatory imposed steps to conduct investiments of my choice. Inverse funds are essential to my investment choices. I oppose these types of mandates:
-Pass a regulator-imposed test of my specialized investment knowledge
-Demonstrate a high net worth
-Get special approval from my broker
-Attest to reading certain materials
-Go through cooling-off periods where I cant invest
You not regulators should be able to choose the public
investments that are right for you and your family.
Public investments should be available to all of the public,
not just the privileged.
It is very important that you express your views in your own
wordsyour comments are more likely to be taken seriously
by FINRA if they reflect your own experience and perspective.
Not only do you have the right to share your views,
but the regulators are required to take your comments into
Americans should be free to research and utilize all manner of publicly traded securities in their investment portfolios. These should not be managed or limited by regulators. I utilize leveraged index-based securities regularly as a core element of my investing strategy.
I, not regulators, should be able to choose the public investments that are right for you and your family. Public investments should be available to all of the public, not just the privileged. I shouldn't have to go through any special process like passing a test before I can invest in public securities, like leveraged and inverse funds. I am more than capable of understanding leveraged and inverse funds and their risks. Leveraged and inverse funds are important to my investment strategy. They help me protect my investments and I use them as a limited part of my overall portfolio
I oppose the regulations being proposed by FINRA. I believe free markets are in everyone's best interest and that each individual is responsible for their own actions.
Investors like myself, should be able to select the investments they deem fit for their overall portfolio without having to jump through restrictive hoops. I own a leveraged ETF through Fidelity. Whenever I look to purchase more of this ETF, Fidelity requires that I read some disclosures and attest to the fact that I understand the risk involved with this investment. I believe that is enough of an attestation!