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
To Whom It May Concern:
Please find my official comment to FINRA Regulatory Notice #22-08. I oppose the contemplated restrictions for the following reasons (among other things):
1. Financial instruments available to retail investors (like myself) have to go through a rigorous disclosure/registration process before becoming available generally for investment. It thus seems unnecessary to impose
The Cyber and Analytics Unit (CAU) within FINRA’s Member Supervision program is highlighting the SEC’s recent amendments to Regulation S-P.[1] On May 15, 2024, the SEC announced the adoption of amendments designed to modernize and enhance the protection of consumer financial information by broadening the scope of information covered by Regulation S-P’s requirements and requiring covered institutions to (1) adopt an incident response program and (2) notify affected individuals whose sensitive customer information was, or is reasonably likely to have been, accessed or used without authorization.
Limiting investment options, such as leveraged and inverse funds, to those that meet special income or asset tests is clearly discriminatory. These types of restrictions allow for the wealthy to financially gain from certain economic opportunities, while investors who are economically challenged would not be allowed to take advantage. The government would be restricting people who freely desire
I am opposed to new restrictions on who can invest in complex assets such as leveraged or inverse funds, among others. If FINRA is concerned about protecting retail investors, they should just require full and clear disclosure on all financial products and punish anyone who misrepresents them or coerces anyone into using them against their own best interest.
We are all adults here and can make
SEC Approval and Effective Date for New Consolidated FINRA Rules Regarding Margin Requirements, Daily Record of Required Margin, and Extension of Time Requests
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FINRA Reminds Firms of Their Sales Practice Obligations With Reverse Exchangeable Securities (Reverse Convertibles)
Please do not move to over regulate my financial investment options. Limiting the investing tools available to every day investors further creates a divide between those with capital and those without it. Dont make it worse!
Summary
FINRA has received reports about increasing numbers and sophistication of ransomware incidents. Ransomware typically involves bad actors gaining unauthorized access to firm systems and encrypting or otherwise accessing sensitive firm data or customer information, then holding that hijacked data for ransom. Some ransomware attacks have become significant threats that include theft of data
