To Whom it May Concern,
I disagree strongly with the proposal to restrict trading of leveraged and inverse ETFs. Requiring minimum income levels or minimum assets as a requirement of trading these investment vehicles is once again telling the average American that one must already be wealthy in order to be allowed to pursue wealth. Furthermore, it will do so precisely at a time when the
So first you restrict average people from utilizing options, trying to get them to jump through hoops and meet net worth requirements. (i.e. you can only play and protect your financial assets if you're already rich so that you can get richer). Then you don't let people participate in CFDs or other regular leverage utilized still by rich institutions and also the rest of the
Remarks From the National Compliance Outreach Program for Broker-Dealers
The Portfolio Margin and Intraday Trading section of the 2022 Report on FINRA’s Risk Monitoring and Examination Activities (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) relevant regulatory obligations and related considerations, (2) exam findings and effective practices, and (3) additional resources.
This action is not based on any evidence of misuse of leveraged ETFs. Arguably, this action would push investors into far riskier investments such as cryptocurrencies, margin trading, short term options, and penny stocks - why draw the line at leveraged ETFs? Utilizing a leveraged ETF tracking DOW30 and S&P500 as a small percentage of my portfolio helps me enhance my returns. Leveraged
Summary
FINRA requests comment on a proposed change to its current policy relating to the assignment of OTC symbols to unlisted equity securities. Specifically, FINRA is considering whether it should begin assigning OTC symbols to unlisted equity securities that do not have a valid CUSIP identifier, in the limited circumstance where a member firm demonstrates its best efforts to obtain a CUSIP
Dear FINRA, First, let me introduce myself. I am Nathan Ayotte, and I am an individual investor with personal goals of acquiring a large average annual compound rate of return each year. Personally, I have been investing in a particular triple-leveraged ETF fund based on the Nasdaq-100 (Ticker: TQQQ) for 4 years, provided by an asset management company called ProShares. The fund is a fantastic,
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Executive Summary
The obligation of NASD® members under the Rules of Fair Practice with respect to mutual fund sales practices is a continuing concern of the NASD. The proliferation of new mutual funds and varied fee structures has significantly increased the options available for
Comments: I am an active retail trader of leveraged ETFs, including inverse funds. I object to all proposed regulations that might require me to suspend my trading activity, including but not limited to minimum capital requirements, and regulations that may restrict execution of trading orders. Persons should be free to engage in speculation in financial markets and the disenfranchisement of any
LETFs are indeed complex investment instruments but I believe current disclosure requirements are more than sufficient for investors to remain informed about the products they are buying. Limiting the purchase of LETF products to accredited investors or requiring financial literacy tests to purchase only puts unnecessary roadblocks in place that are easily circumvented. Enforcing one day holding
