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.
Dear FINRA -
I am in complete disagreement with FINRA's potential restrictions on "Complex Products." By undertaking these restrictions FINRA will be providing and enabling the "Wall Street" investment banks a better opportunity to take advantage of investors. This products provide investors the opportunity to hedge investment positions. Investments
You dont have the right to require people a special knowledge on how to invest their money. Public investments are just that public and every American has the right to invest in them in an attempt to create a better life for themselves and their family. Its completely unfair and unjust to limit average people the ability to invest to improve their own future.
James madison wrote we have rights in our property and property in our rights.the right to invest to make a better life for ones self and family is according to blackstone a fundamental right which NO AGENCY CAN IMPAIR....BE CAREFUL AS YOU WILL HAVE TO DEFEND YOUR POSITION SHOULD YOU CHOOSE TO IMPAIR THE WELFARE OF CITIZENS.
I am writing you all to voice my opinion on leveraged ETFs. Ive utilized thrse vehicles for many years and can personally state their viability. They have allowed me to take advantage of market movements during extreme volatility better than most options. I strongly believe they should remain an open option.
Reducing the pool of potential investors does not sound to me like a plan to make investing easier or better. These restrictions also don't seem like steps to make the markets more efficient - the proposed rule sounds like a way to make the markets way less efficient. Anyone should be able to buy - or to sell - these holdings.
I have been investing in leveraged funds for over 10 years and I am aware of the risks. Leveraged funds help my portfolio perform better with higher returns. I do not need any classes or tests or certificates to trade these funds. If you do then you should make every single investor in the market do the same.
Dollars have no intrinsic value, so if any member of the public wants to gamble with them using what you call 'complex products', this should be entirely possible so as to have a level playing field with wall street. Educational materials are good. Less regulation is better, ending the federal reserve bank would be best.
Limiting LETFs to holding for one day, will greatly hinder my ability to save for retirement. I am a young investor with a long investment time horizon. Being forced out of LETFs would generate enormous capital gains that will financially ruin me. All I want is FINRA to do is to just make broker disclosures better.
As a not-for-profit membership organization, FINRA is committed to transparency and engagement with our members regarding our finances. Accordingly, we want to update you about a fee rebate to our member firms.
