Michael Moody Comment On Regulatory Notice 22-08
The proposed regulations are, quite frankly, stupid. Leverage is easy to understand, and while it carries risks, it would be exclusionary and harmful to prevent people from investing in a basic public security that happens to be leveraged. Such regulation is inconsistent with the risks and benefits I already accept as an adult. There is not regulation to prevent me from spending $20,000 of my own money on a car or a boat that will surely depreciate, so why am I treated like a child when it comes to investing?