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David Grana Comment On Regulatory Notice 22-08

Inverse funds serve an important function to hedge investment portfolios. By precluding retail investors from doing so, it is locking out this class of investor from having any form of protection during periods of down markets. It is inconceivable that in the U.S. there is a proposal to preclude investors from being able to decide what they do with their own finances. Why are high net worth individuals given special privileges? You are putting the retirement investments of tens of millions of Americans at risk by not allowing them the right to protect their portfolios.

Taposh Chatterjee Comment On Regulatory Notice 22-08

I personally believe that investor education and knowledge is key to keeping investors safe. All investments should have risks outlined in simple language for investors to understand. However, restricting certain investment to only a select few basically increases market manipulation and puts such power in the hands of some unscrupulous operators. How many times in the history of our markets has a small investor been responsible for a market meltdown or fraud ? Please do not make another tool for the select few. Enact legislation to improve transparency, not decrease access.

William Wilson Comment On Regulatory Notice 22-08

SEC Leveraged and inverse funds are used in particular situations to hedge or enhance certain positions I may have. Rather than selling some or all of a position and causing taxes, I can use an inverse fund to protect my investments. Today, my broker provides information to ensure I have the needed information about using these funds. Please don't add increased scrutiny or requirements to use these instruments.