I do not believe testing investors' knowledge of complex products as a prerequisite to their purchase is an effective way to protect those investors. Test answers could be obtained from the internet without the investor actually retaining the knowledge effectively. Additionally, a lack of understanding of a particular subset of complex products should not be reason to deny the purchase of a
<p>FINRA Rules 7410-7470 (OATS)</p>
I want to be able to choose the Public investments that are
right for myself and my family. Public investments should be available to all of the public, and not just the privileged.
I feel that I should not have to pass a test before investing in public securities such as leveraged and inverse funds. I am able to understand these funds and their risks. These investments help my portfolio grow
I have seen warning provided by the broker website on each buy trade. In addition I had to go through a risk signup document to confirm that I understand the risk.
Above steps are good way to provide disclosure on every trade.
However if the changes are being planned to make an investor go through certain tests then I think that is excessive, and would not appreciate putting such restrictions.
I do not feel that I should have to go through hoops to make investments that I feel I am comfortable making. The government doesn't regulate my selection of houses I could buy (an investment in a volatile market), so I should not be restricted on my investment selection within the stock market. While I am Series 7 licensed, I still think it is excessive for anybody to have to take what
The choice of which investment products to buy is my choice, and should not be the choice of regulators.
I completely understand the risks these products carry. I do not need new regulations or tests imposed on me that limit my ability to purchase public leveraged securities.
I use leveraged securities to generate income weekly with a variety of strategies, and regulatory limits on my investment
Regulating this type of investment is an infringement upon the individuals ability to invest how they see fit. Americans already surrender a portion of their pay to fund a badly run retirement fund Social Security. As money has been deemed speech when it comes to campaign contributions, this appears a violation of ones personal speech in determining how they best see fit how to invest. I believe
I have been contacted by a website called "Let Everyone Invest" that says under the regulations being considered by the Financial Industry Regulatory Authority (FINRA), if these public securities are deemed to be complex, you may not be able to buy them unless you: Pass a regulator-imposed test of your specialized investment knowledge Demonstrate a high net worth Get special approval
I want the ability to make my own decisions on what investments to make and when to make them. Timing can be everything. A "cooling off period" could miss the opportunity. You don't have to take a test to invest in the market, go to Vegas, or buy expensive cars and toys, so why single this out? Some people aren't good at tests but are capable of incredible knowledge and
I have invested effort and money into learning investing, a key component of which includes hedging strategies using inverse ETFs. These trading instruments should remain to ALL traders in the public domain. It seems unfair to have a special process and test out given this is not the case with 401Ks, or even the ability to vote from an understanding of the issues that we are supporting or voting
