Bill Daniel Comment On Regulatory Notice 22-08
Protect our freedom
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.
Protect our freedom
Freedom is our right. Comgresss trafers on inside information and you want to disallow constituents freedom to invest in their choice of investments. You are not special but may think you are. Your below average thinkers, make stupid rules and are currently led by a incompetent old man who cant remember his thoughts and who enriched his family of. Crooks and enabled his son to make millions.
Ive been trading leveraged ETFs for over 18 months. To me it seems that you would do more harm to stop a self-directed traders ability to continue while they already have investment in the product. I could go on and on. But I will just say stopping someone especially in a bear market does not give them a chance to use leverage funds to make profit over the long term. That isnt right. You would hurt so many people. I have used for 18 months on my own and I am very happy with leveraged ETFs and self-directed trading. I dont want to trade vanilla funds.
Comments: I have a strong understanding of the characteristics and risks of leveraged investments. I understand this should be monitored regularly, and that they are for short-term trading. My brokerage limits access to the types of trade that I can engage in; for example, I am not allowed to short sell calls or puts, strategies which can be extremely safe or strategies which can be extremely risky. However, I am allowed to trade single options, but I prefer the profile of 1x and 3X leverage investments because they have very similar characteristics to options.
As an individual investor, I want to have the freedom to choose what investment types I want to use without having to pass any screening tests by regulators who suppose to control and limit my freedom including investment choices.
People should be allowed to invest where they want
Dear Regulators - I believe that regulations restricting my choices and hinder my ability to invest in a variety of instruments that meet my personal needs are not fair. There isn't any higher risk in inverse funds than in long funds, and they simply allow market participants to exercise their views on market valuations, besides allowing for hedging positions. Thank you for your consideration.
The government has no business in telling what I can or can't invest in as long as it's legal
I opposed to restrictions to my right to invest. I should be able to choose the public investment that I see fit, Not public regulators! I shouldnt have to pass a test to invest in public securities! I should have freedom to invest in cryptocurrency funds like BITO if I chose to diversify my investments.
Usually when an action like this happens, the powers that be ARE NOT thinking about the average investor, they are thinking how can we keep the major benefits of investing to the "Ultra Rich" and thereby avoid any "Gamestop" activity and exactly time the market for their own wealth. Do I think it is important for any security to have full disclosure? The answer is yes. But often it is accompanied by extensive non-pertinent legalese - the purpose of which is to be so wordy and obtuse that it is mostly not read. Example #1: This product may have wide value swings.