This is totally absurd and is a method of increasing the wealth divide in America exponentially. Barring people from investment would be a downright criminal action.
FINRA - I understand that you feel a need to protect investors from some of the potential pitfalls of leveraged ETFs. I urge you to approach this topic with caution, however. Face it, risk is the foundation of investing and the entire field is fraught with potential pitfalls, interpretation, influence and missteps. There are no guarantees and, effectively, no real reliable sources of information
It is NOT FINRA's obligation to protect investors from themselves. It is the obligation of FINRA to oversee registered firms and registered representatives. If FINRA wishes to take action, it should not be burdensome to the individual investor. FINRA appears to be targeting the informed self-directed investor who understands the risks associated with leveraged and inverse funds, which are
Every adult should have the right to invest and bear the consequences of his or her own actions and decisions. I oppose this new proposition.
I oppose any action by any regulatory agency that would limit freedom to make choices on investment types or any barriers to entry on such.
I understand the risk of all kinds of investments and will be fully responsible for the action of our investment. I object to any restriction on trading of leveraged funds.
Investors should be allowed to invest in products without any encumbrances from regulators. This is an action to benefit the financial institutions that pay Finra.
I oppose the regulations being proposed by FINRA. I believe free markets are in everyone's best interest and that each individual is responsible for their own actions.
A person aggrieved by final action of FINRA under the Rule 1000 Series may apply for review by the SEC pursuant to Section 19(d)(2) of the Exchange Act. The filing of an application for review shall not stay the effectiveness of a decision constituting final action of FINRA, unless the SEC otherwise orders.
Amended by SR-FINRA-2019-009 eff. May 8, 2019.
Amended by SR-FINRA-2008-008 eff. June
(a) Supervisory System
(1) Each funding portal member shall establish and maintain a system to supervise the activities of each associated person of the funding portal member that is reasonably designed to achieve compliance with applicable securities laws and regulations, and with the Funding Portal Rules. A funding portal member's supervisory system shall provide, at a minimum, for
