I agree with the limitations being proposed. Retail investors are not generally suitable for these products. If an investor is suitable they can pass a simple test to acknowledge their understanding of the risks similar to options or futures enabled accounts.
I understand the risk of leveraged ETF/products and use them carefully. They help me get bigger returns with less capital. I should be able to choose what I invest in without having to pass tests.
I do not want these changes. I do not want to lose my right to invest in these funds! I'm not a child! I do not need to pass a test to have the RIGHT to purchase whatever funds and securities I want!
I understand the risk of leveraged ETF/products and use them carefully. They help me get bigger returns with less capital. I should be able to choose what I invest in without having to pass tests.
As a citizen of the USA I should retain the right to invest my money as I please. I do not need to pass a test or go through any special process approved by a government agency to do so.
I don't support this idea. I have the right to decide which kind of securities I want to invest in. Leveraged securities are part of a specific investing strategy that I am testing in a smaller part of my portfolio.
Rule #22-08 is a violation and restriction to OUR FREEDOM! No special tests are required! We are free adults, and must be treated as such! And WHY are "Unelected Bureaucrats" writing and passing laws limiting our RIGHTS?
The OTC Reporting Facility (ORF) is scheduled to migrate to new technology on September 15, 2014. On this July 16 free conference call about the migration, FINRA staff:
SUGGESTED ROUTING
Senior ManagementLegal & ComplianceOperationsSystemsTrading
Discussion
In Notice to Members 94-09, published in February 1994, the NASD announced Securities and Exchange Commission (SEC) approval of a new Section 46 of Article HI of the Rules of Fair Practice requiring members holding open orders to adjust the price and size of such orders by the amount of any
Investors don't need unnecessary interference by big brother regulators in our investment choices. Requiring that clear information be provided is fine, but don't expect adults to go through testing or other restrictions.
