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The purpose of this Special Notice to Members is to inform members of the upcoming nomination and election process to fill
As an investor we understand risks associated with investing in leveraged and inverse funds. Please do not restrict investors(esp retail) and make investing in stock market tougher. This regulations if brought in will impact investors/traders who are already in trading and they might incur huge loss in terms of capital depreciation by scaring away exiting and new investments.
Updated: April 18, 2017
Good afternoon. Thank you, Merritt [Fox], for that kind introduction and for the invitation to speak with you this afternoon. It’s a pleasure to be with you today and to participate in this ambitious initiative to conduct a New Special Study of the securities markets.
As all of you know, the original Special Study was a defining event in the history of U.S.
Leveraged and inverse funds are important part of risk management. These funds make it possible to use a small percentage of capital to risk manage the other side of a trade. There are plenty of SEC / FINRA regulation as well as documentation on investments to understand the risk. Should investors ignore reading the documents of any and all investments that is the investors choice.
Ive been investing for almost a decade. I understand the risk of using leveraged and inverse ETFs. I am making the choice to trade them with the understanding that I can lose a lot of capital but I should be allowed to make my own decision. Cigarettes and alcohol are far riskier than trading stocks, but theyre still bought and sold.
Please do not restrict investor access to complex and leveraged products. Yes, there ought to be disclosures of risks and transparency around fund mechanisms. In other words: informed consent. But barring access is undemocratic and wrong. Many leveraged funds are useful tools for investors who lack the requisite capital to use futures to achieve leverage.
TO: All NASD Members and NASDAQ Subscribers
The Securities and Exchange Commission has recently authorized the expansion of the number of securities eligible for trading by our members through the linkage between the Intermarket Trading System (ITS) and the Computer Assisted Execution System (CAES). This linkage was mandated by the Commission in its order dated April 21, 1981, the first phase of
FINRA Requests Comment on Proposed Consolidated FINRA Rule Governing Discretionary Accounts and Transactions
To FINRA,
The Freedom to trade equities and other asset classes feels like a basic right without needing encumbrances to that end. I am a knowledgeable investor of leveraged ETFs that have returned twice annually as much as I would buying and holding SPY, QQQ or the like (1x leverage).
Any regulation that would impose more hurdles to my trading would feel like restriction, when my regimen of
Leveraged , inverse, and other complex strategies are an important part of my investment profile. They allow me to be precise in the risk and asset class of my choosing compared to corporate equities which in fact encapsulated many more risks.
I do not believe regulators should interfere in the investment choices as those that want to invest in so-called complex instruments can easily read the
