A SIMPLE SOLUTION I'm appreciative that FINRA and the SEC have considered the market implications of complex products and how they are offered to the investing community. There are certain products (i.e., leveraged and inverse ETF's) which investors should understand in more depth. That said, it is not appropriate for a third party to arbitrarily decide whether investors are capable of understanding the intricacies of a particular investment; by and large, investors are intelligent and certainly able to manage their own affairs. A simple solution is to simply put the onus on investors that they understand the risks before they invest via an annual self-certification so 1) investors understand it's a "complex" product, 2) the B/D community doesn't not have to decide or take risk, and 3) these products are still available to the millions of investors who have used them to their advantage for decades. In addition to the existing educational papers & regulatory disclosures [which are quite strong], these steps will insure all investors have suitable risk awareness and these products survive. It is not appropriate to unduly restrict access to products the investing community has embraced for so long.
For the Public
FINRA DATA
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
FINPRO
Registered representatives can fulfill Continuing Education requirements, view their industry CRD record and perform other compliance tasks.
For Member Firms
FINRA GATEWAY
Firm compliance professionals can access filings and requests, run reports and submit support tickets.
For Case Participants
DR PORTAL
Arbitration and mediation case participants and FINRA neutrals can view case information and submit documents through this Dispute Resolution Portal.
Need Help? | Check System Status
Log In to other FINRA systems
Anonymous Comment On Regulatory Notice 22-08
A SIMPLE SOLUTION I'm appreciative that FINRA and the SEC have considered the market implications of complex products and how they are offered to the investing community. There are certain products (i.e., leveraged and inverse ETF's) which investors should understand in more depth. That said, it is not appropriate for a third party to arbitrarily decide whether investors are capable of understanding the intricacies of a particular investment; by and large, investors are intelligent and certainly able to manage their own affairs. A simple solution is to simply put the onus on investors that they understand the risks before they invest via an annual self-certification so 1) investors understand it's a "complex" product, 2) the B/D community doesn't not have to decide or take risk, and 3) these products are still available to the millions of investors who have used them to their advantage for decades. In addition to the existing educational papers & regulatory disclosures [which are quite strong], these steps will insure all investors have suitable risk awareness and these products survive. It is not appropriate to unduly restrict access to products the investing community has embraced for so long.