I urge FINRA to continue to protect the right of choice in how to best protect our investment portfolios in order to help achieve long-term financial security. My fear is that regulations could be too broad and difficult to interpret and therefore, Unworkable: The definition of complex products is so broad, arbitrary and vague that it could ensnare a vast number of commonly used public securities. - Furthermore my fear is that understanding the complex definitions could become subjective and could lead to unfair or even discriminatory treatment of investors. Fear of Confusing and/or negating our current regulatory system; Under the long-standing disclosure-based system, investors have had the right to decide which public equities, bonds and funds they want to buy. I want advisors and clients alike to be able to still have the freedom and the power to decide what public securities they can and cannot invest in, not regulators.
David Wilhite Comment On Regulatory Notice 22-08
I urge FINRA to continue to protect the right of choice in how to best protect our investment portfolios in order to help achieve long-term financial security. My fear is that regulations could be too broad and difficult to interpret and therefore, Unworkable: The definition of complex products is so broad, arbitrary and vague that it could ensnare a vast number of commonly used public securities. - Furthermore my fear is that understanding the complex definitions could become subjective and could lead to unfair or even discriminatory treatment of investors. Fear of Confusing and/or negating our current regulatory system; Under the long-standing disclosure-based system, investors have had the right to decide which public equities, bonds and funds they want to buy. I want advisors and clients alike to be able to still have the freedom and the power to decide what public securities they can and cannot invest in, not regulators.