* Hurts Investors: It could potentially deny my the freedom to choose investments that could help me achieve long-term financial security. Upends Our Regulatory System: Under the long-standing disclosure-based system, investors have the right to decide which public equities, bonds and funds they want to buy. * Investment always involves risk. It is investor's responsibility to control the risk of our own money, not regulator's. Is Arbitrary and Unworkable: FINRAs definition of complex products is so broad, arbitrary and vague that it could ensnare a vast number of commonly used public securities.
James Cai Comment On Regulatory Notice 22-08
* Hurts Investors: It could potentially deny my the freedom to choose investments that could help me achieve long-term financial security. Upends Our Regulatory System: Under the long-standing disclosure-based system, investors have the right to decide which public equities, bonds and funds they want to buy. * Investment always involves risk. It is investor's responsibility to control the risk of our own money, not regulator's. Is Arbitrary and Unworkable: FINRAs definition of complex products is so broad, arbitrary and vague that it could ensnare a vast number of commonly used public securities.