I OPPOSE RESTRICTIONS ON SELF-DIRECTED RETAIL INVESTORS TRADING IN OPTIONS AND OTHER COMPLEX PRODUCTS!
The advent of low cost self-directed trading in options and so called complex ETPs has greatly democratized investing by giving average people the opportunity to employ investment strategies previously available only to the wealthy.
I dont want the government restricting what I can trade or forcing my broker to monitor my activity like a nanny and decide what I should or shouldn't invest in. I also dont want to be burdened with higher trading costs because my broker is forced to perform such oversight of their clients.
I personally started with a very small account when I had a much lower net worth so I abhor any existing or proposed restrictions based on the individual's net worth or account balance. Many successful investors start off poor, don't condemn them to remain so by imposing restrictions.
The risks are well telegraphed already and there is plenty of educational material out there. If some retail investors choose not to pay attention or educate themselves then that is their problem and should not impact the options available to all. America is the land of opportunity and freedom, unfortunately that includes the freedom to make mistakes. Restricting access or putting up barriers because some are reckless unfairly punishes the responsible masses just trying to make a better life for themselves and their loved ones.
Dale Cosh Comment On Regulatory Notice 22-08
I OPPOSE RESTRICTIONS ON SELF-DIRECTED RETAIL INVESTORS TRADING IN OPTIONS AND OTHER COMPLEX PRODUCTS!
The advent of low cost self-directed trading in options and so called complex ETPs has greatly democratized investing by giving average people the opportunity to employ investment strategies previously available only to the wealthy.
I dont want the government restricting what I can trade or forcing my broker to monitor my activity like a nanny and decide what I should or shouldn't invest in. I also dont want to be burdened with higher trading costs because my broker is forced to perform such oversight of their clients.
I personally started with a very small account when I had a much lower net worth so I abhor any existing or proposed restrictions based on the individual's net worth or account balance. Many successful investors start off poor, don't condemn them to remain so by imposing restrictions.
The risks are well telegraphed already and there is plenty of educational material out there. If some retail investors choose not to pay attention or educate themselves then that is their problem and should not impact the options available to all. America is the land of opportunity and freedom, unfortunately that includes the freedom to make mistakes. Restricting access or putting up barriers because some are reckless unfairly punishes the responsible masses just trying to make a better life for themselves and their loved ones.