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REQUEST FOR COMMENTS
EXECUTIVE SUMMARY
The NASD is publishing for comment an amendment to Schedule E to the NASD By-Laws that would exempt a qualified independent underwriter from the pricing requirements of Section
It's my family's money at risk. We are perfectly capable of understanding leveraged and inverse funds. Let us decide which vehicles we use. This proposal will only help the large institutions by once again handicapping the private investors even more with so called rules designed to "protect" them.
I strongly object to any FIRNA curbs on my ownership of "complex" public exchange traded Products, when the vendor has made adequate disclosure of the product's operation and risks. There are far more useful actions that FIRNA can take in other areas to protect investors, eg. SPACs, private equity marketing, etc.
Individual private investors should have the right to invest unhindered in inverse and leveraged stock index funds. These funds facilitate methods of trading that can be used to manage market risk, and are easier to trade than options. Investors should have this method available for investing. Please do not restrict investors access to these types of funds.
By Robert Cook, President and CEO, FINRA. To best serve our mission of protecting investors, safeguarding market integrity, and supporting vibrant capital markets, FINRA must regularly review and improve its regulatory policies and programs to make them more effective and efficient. This commitment to continuous improvement drives our FINRA Forward initiative, which we launched earlier this year to explore opportunities to enhance and evolve our programs in step with a constantly changing industry and marketplace.
<p>Further interpretive advice to members concerning the sale of hedge funds.</p>
We do not need regulations limiting smaller investors abilities to take on risk. There is adequate warnings already in place for levered ETFs. Small investors already cant access many investments that the wealthy can such as private equity and venture capital. This will push more investors into taking riskier margin loans rather than a managed leveraged product.
I oppose this ruling as a retail investor because I have responsibly been trading leveraged funds for multiple years without additional risk. I feel this ruling imposes totalitarian control on my money and limits my freedom as a private citizen. If this ruling isn't stopped now, additional constraints on investing for the normal populace will continue to be incurred without reason.
I am fully capable of determining my own level of risk with investing and frankly find it insulting that the government would presume to limit my choices.
Instead of telling members of the public what they can do with their own money, perhaps spend more time reviewing what elected officials do with their money when combined with private information.
Good morning. Thank you for that introduction Louise [Guarneri], and thank you for inviting me to speak this morning.
