I would like to point out two proposals that I absolutely think must be accepted. The others are still very good to increase accountability and reestablish some semblance of trust. "Synthetic Short Positions: In addition, FINRA is considering requiring firms to reflect synthetic short positions in short interest reports. For example, enhanced short interest reporting could include synthetic
Proposed Rule Change Relating to Test Results Information on the Content Outlines of FINRA Qualification Examinations
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change relating to members’ filing requirements under FINRA Rule 6432 (Compliance with the Information Requirements of SEA Rule 15c2-11).
FINRA
FINRA publishes a weekly newsletter (the weekly update) containing its rule proposals and notices of rule approvals with effective dates. FINRA provides an email subscription service for the newsletter as well as other communications. FINRA also maintains a catalog of social media and RSS feeds.
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I am a retail investor and these funds offer me the opportunity to invest in strategies other than long equities. I am also an informed investor. I understand and accept the risks involved. I do not believe that regulation will encourage responsible investing. I do believe regulation will limit retail investor opportunity.
I am in control of my own investments and future. I should be able to take risks I deem appropriate based on my own information and do not want regulators limiting my options. This is an unfair practice and the common investor should have the right to make their own decisions on how they invest.
This kind of regulation will only make it more difficult for the average citizen to achieve financial independence and awareness. This is the kind of barrier that allows institutions to maintain their monopoly on advanced trading tactics and instruments. There is already plenty of information and cautionary warnings in place that any reasonable person would understand their risks.
Comments:its my choice to trade any and all securities including leveraged and contra etfs. The information on its risks is widely available and I reviewed it many times. Its my responsibility. I and we do the Due Diligence as long as full disclosure is provided.
Thank you,
Mirek Wachowiak
Stop the regulatory overreach! This proposal will prevent private investors from making informed decisions about how they want to spend their own money. Your ludicrous, vague and just plain stupid proposal will hurt me from selling investments I have already made! Just STOP IT.
