Kenneth Zachary Comment On Regulatory Notice 22-08
I oppose restrictions on my right to invest.
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.
This, after we we are facing a potential bear market, sounds like you're just forcing us to lose money. If we lose money, do retail investors get bailouts? No. So why are being targeted? No one's even asking for this. You're acting against our interests.
As a small investor I object to being regulated so tightly that I can not make small buys of cryptocurrency that I might decide to invest for my family and or pay for future purchases. I am just learning about investments of these types and would hope that I can learn enough and through small buys maybe even teach some of my family how to invest before I die!
We will leave the country if it becomes too restricted.
I believe FINRA's proposed limits try to address a problem that does not exist. Retail investors should have the freedom to decide what to do with their money and Direxion does a great job with several resources in their website to inform us about the risks of leverage investments.
I understand well what the risks are of investing in leveraged ETFs and they have made me a better investor.
Also, my broker, Robinhood, provides warnings about leveraged ETFs each time I try to buy or sell the stock with big yellow characters.
I believe Investors should not be forced or regulated on how they should invest. I believe I am free to make my own personal investing decisions within outside interference.
Comments: As both an ETF investor and ETF industry executive, I'm alarmed at FINRA's latest regulatory notice 22-08, which has major implications for both the ETF marketplace and the investing public.
I not regulators should be able to choose the public investments that are right for me and my family. Public investments should be available to all of the public, not just the privileged.
Investors take risks of all types based on their own assessments. Regulators have no business deciding how this assessment should be carried out since it's a personal decision. Only the investor can make this decision based on their own knowledge and wisdom of market behavior and how each investment tool functions. This is another step to limiting investment options for the little guy while giving an edge to the major investment firms who do not need to pass the same tests due to their high account balances.
I am successfully using leveraged funds as part of my portfolio. It is one of the only ways I can "level the playing field" as a small investor. I do not believe this regulation represents the public's best interest.