I am not opposed to additional disclosures. However onerous requirements on net worth or certifications will only keep the poorest among us distant from complex financial tool and lead to increase the disparity between rich and poor. Given the long term results of one of the most popular leveraged etf,TQQQ, this really seems like a ploy that helps the wealthy by limiting the upward mobility of the poor. Wealth does not determine education, intelligence, or understanding of market dynamics.
Yes, these products have inherent risk. They are far less complex than an investor trying to create these strategies on their own.
David Wimmer Comment On Regulatory Notice 22-08
I am not opposed to additional disclosures. However onerous requirements on net worth or certifications will only keep the poorest among us distant from complex financial tool and lead to increase the disparity between rich and poor. Given the long term results of one of the most popular leveraged etf,TQQQ, this really seems like a ploy that helps the wealthy by limiting the upward mobility of the poor. Wealth does not determine education, intelligence, or understanding of market dynamics.
Yes, these products have inherent risk. They are far less complex than an investor trying to create these strategies on their own.