I am writing to express my strong opposition to FINRA’s Proposed Rule 3290 as outlined in Regulatory Notice 25-05. As a responsible investor who personally owns digital assets and utilizes a registered advisor through Digital Wealth Partners, I am deeply concerned about the proposed restrictions requiring financial advisors to seek written approval from their broker/dealer before engaging in personal crypto asset investments.
This overreach could have a chilling effect on innovation, advisor autonomy, and financial literacy regarding emerging technologies. Rather than reducing burdens, this rule would likely cause a mass exodus of financial advisors from the FINRA system to SEC-registered RIA firms where they can operate with more flexibility and continue to act in their clients' best interests.
I urge FINRA to reconsider this rule and adopt a more modern and reasonable approach that respects personal investment freedom while maintaining appropriate safeguards. Thank you for your attention to this matter.
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Alberto Sosa Comment On Regulatory Notice 25-05
I am writing to express my strong opposition to FINRA’s Proposed Rule 3290 as outlined in Regulatory Notice 25-05. As a responsible investor who personally owns digital assets and utilizes a registered advisor through Digital Wealth Partners, I am deeply concerned about the proposed restrictions requiring financial advisors to seek written approval from their broker/dealer before engaging in personal crypto asset investments.
This overreach could have a chilling effect on innovation, advisor autonomy, and financial literacy regarding emerging technologies. Rather than reducing burdens, this rule would likely cause a mass exodus of financial advisors from the FINRA system to SEC-registered RIA firms where they can operate with more flexibility and continue to act in their clients' best interests.
I urge FINRA to reconsider this rule and adopt a more modern and reasonable approach that respects personal investment freedom while maintaining appropriate safeguards. Thank you for your attention to this matter.
Sincerely,
Alberto Sosa