SUGGESTED ROUTING
Senior Management
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Executive Summary
On May 5, 1995, the Securities and Exchange Commission (SEC) approved amendments to the Interpretation of the Board of Governors—Forwarding of Proxy and Other Materials under Article III, Section 1 of the NASD® Rules of Fair Practice1 (Interpretation). The
For purposes of the Rule 6800 Series:(a) "Account Effective Date" means:(1) with regard to those circumstances in which an Industry Member has established a trading relationship with an institution but has not established an account with that institution:(A) when the trading relationship was established prior to commencement of Phase 2c or Phase 2d (as applicable depending on
SEC Approves Amendments to Publish OTC Equity Volume Executed Outside Alternative Trading Systems
COMMENTS ON 22-08 You have made this request for comments so complicated that it is hard to follow. I will just list my ideas and you can try to sort them out. On my trip from model airplanes to airline captain I have made many replies that affected new FARs. This a free country and everyone should be able to risk some $ and try to make more $. This should include hedge funds, but limited to a
I do not support restrictions on peoples freedom to invest. While perhaps the intentions are good it is a slippery slope to start restricting trading on certain investments, such as leveraged and inverse trading vehicles. While these funds may indeed have higher risk, so do many individual stocks. Not all companies and their corresponding stocks are equal, people make investment choices all
The purpose of restricting individual investors to purchase leverage ETFs by FINRA is questionable since my stock broker, Fidelity, already informs investors volatility and risks of losing capital seriously. Those who are trading leveraged ETFs are well aware of the consequences and ready to be responsible for high market volatility. In reality, most of novice individual traders don't
I don't think it is right for Regulators to take control of how the public wants to invest in the future of their families, your trying to make the rich get richer once again, middle class people don't have a chance again, when a good thing comes along that's when regulators want to take over, where were you when crypto was just getting started, you didn't believe in it but
Leveraged ETFs are not always more risky or complex than an individual company stock. Some companies have very complex operations or products that are harder to understand than a 2x ETF. The risk of a single company going to zero value is probably larger than the risk of an 2x stock index going to zero. The use of a leveraged ETF could be related to a need for liquidity, or be tax related. For
I feel it is very important for retail investors to have the same types of ability to buy inverse and leveraged stocks that corporate investors have access to. Denying access to this type of investing would deny retail investors more equal ability to take advantage of bear markets.
As an RIA for over two decades, I want the ability to use whatever tactical strategies I see fit for my clients as well as myself. I have used inverse funds within hedging strategies since the 1990s to no ill effect for my clients. They are extremely useful tools for hedging against large market losses, especially within Long/Short strategies. With the advent of cannabis, crypto, day-traders, and
