It is my right to be able to purchase whatever financial assets I choose. My lack of money should not prevent me from participating in the same market as institutional investors. Institutional investors already face minimal regulation and are free to do whatever they would like, while retail investors are banned from day trading. Payment for order flow makes the issue even worse as only big
Dear FINRA rep,
Its about time that someone is finally addressing these horrible leveraged and inverse funds that ProShares offers to the public!
I have personally lost over $100,000 over the last 10 years. And I still have one that is down $85,000 in my stock account but just have not yet taken the losses yet. Every 2x or 3x fund eventually goes to zero and companies such as ProShares just does
First of all, thank you for letting me know about this. I know enough about leveraged and inverse funds and am constantly dealing with their risks. And I am constantly striving to acquire for a lot of knowledge and information. Therefore, I oppose any restrictions or other testing measures on my investment rights. Currently, the leveraged stocks I focus on invest in because they are made up of
TO: All NASD Members and Other Interested Persons
LAST DATE FOR COMMENT: JULY 22, 1987.
EXECUTIVE SUMMARY
The NASD requests comments on a proposed amendment to Article III, Section 35(d)(2)(D) relating to testimonials used in members' communications with the public. The amendment would conform the NASD rule to that of the New York Stock Exchange.
The text of the proposed amendment is
I strongly disagree with making it harder to trade complex products, specifically leveraged and inverse funds. If I had to meet similar qualifications and go through much the same processes required for margin and options, then I would be tempted to simply go ahead and sign up for those as well or instead, which would expose me to dramatically higher risks than any ETF. It's quite likely
I use the inverse leveraged products to hedge my risk. For example, I bought a share of Google upon the advice of a broker acquaintance. I was worried about the upcoming earnings report, but wanted to hold onto my stock for the split coming this Summer. So I bought an inverse leveraged product for a few days to lessen my risk during earnings season. I did have an issue with the ProShares UVXY ETF
This proposal makes no sense. We understand the risks of owning these securities. The leverage per se is not a distinguishing feature. Individual investors own leveraged securities all the time. We buy futures, options etc.. Leveraged funds are simply a packaged, and often much more liquid way to do the same. All this regulation will do is boost the profits of FCMs and increase transactions costs
I totally reject the government restricting my access to investment products that are properly and transparently marketed and regulated with regards to their upside and downside risks. I totally reject any attempts of the government to extend any exclusion of public markets to exacerbate the wealth disparity we already have. Please spend your time and our taxpayer money on the following: #
I think a lot of this regulation is being generated to disenfranchise the retail investor. Please allow "regular" working people to continue diversifying their portfolios with products that may seem too "complex" for them to understand. Putting burdensome and elitist restrictions on financial products that empower the middle class is a form of slavery that is not
I am a small investor who needs the opportunity to prevent losses due to changes in the stock market. Taking away ability to protect my assets will severely impact my ablity to support myself and my family. Public investments, such as the ones FINRA is proposing to impose special requirements on, should be available to all Americans and not for just the privileged. The proposed changes to #S7-24-
