I feel strongly that I should not have to prove to anyone that I am capable of choosing my own investments. Such a restriction would prevent me from using inverse ETFs to hedge during downtrends in the market (such as we are currently experiencing) and also prevent me from taking advantage of downtrends in the market. Cooling off periods may expose me to a complete inability to protect my money if such a period coincides with a period of high market volatility. This is a serious risk to my financial stability, not a protection. I am reasonably intelligent and understand how these instruments work. I should not have to pass a test to invest MY money. I do not need regulatory involvement in my investing.
John Freed Comment On Regulatory Notice 22-08
I feel strongly that I should not have to prove to anyone that I am capable of choosing my own investments. Such a restriction would prevent me from using inverse ETFs to hedge during downtrends in the market (such as we are currently experiencing) and also prevent me from taking advantage of downtrends in the market. Cooling off periods may expose me to a complete inability to protect my money if such a period coincides with a period of high market volatility. This is a serious risk to my financial stability, not a protection. I am reasonably intelligent and understand how these instruments work. I should not have to pass a test to invest MY money. I do not need regulatory involvement in my investing.