I wanted to comment regarding the regulations being considered by the Financial Industry Regulatory Authority (FINRA). I have utilized the leveraged funds and I understand how they work. I do not feel that it is necessary to go through any special training or monitoring to trade with these funds. I oppose restrictions regarding my right to invest in public investments.
Why must I "demonstrate a high net worth"? What defines a high net worth? Why are you being so intentionally ambiguous with this qualification? Why would an investor of "high net worth" be better qualified to trade as a trader with less net worth?
What happened to the government's position of income equality?
It's insulting that you would limit what we can freely trade. You'll happily tax on profits, and everyone understands the downsides to investments. This arbitrary limitation is simply another tool for you to exert power, create more onerous regulations and limit the free exercise and potential profit of regular investors.
Gross Income Assessment, Personnel Assessment, and Regulatory Fee
SUGGESTED ROUTING
KEY TOPICS
Compliance
Legal
Senior Management
Gross Income Assessment
NASD By-Laws
Personnel Assessment
Regulatory Fee
Executive Summary
NASD is issuing this Notice to Members to inform members that NASD's Board of Governors has approved proposed changes to NASD's Gross
I strongly feel that it is my right to invest my money as I see fit, to include leveraged ETFs. I strongly disagree with any regulations meant to discourage me from doing so, or requiring a certain net worth or trading background. In summary, its my money and Id like to do with it what I like.
I personally feel that options trading is far more complex and risky than the leveraged and inverse funds which I do have access to. The leveraged and inverse funds are comparably simple enough to understand and I try to utilize it in limitation to offset my other losses periodically. Hence I feel important to have access to these funds.
I commonly trade leveraged funds to utilize trends and take advantage of bear markets. I often use the 2x leveraged funds of the nasdaq and s&p. I also use limits and stop losses. This will be a devastating and unacceptable hit to my portfolio and investing style. Taking this away does not help free markets, it limits them.
I have been using leveraged etfs for 15 years now. I use them so I don't have to buy or sell the S&P 500 index known as the spy using much more of my trading account. Please do not limit my current freedom to invest in public securities of my choosing.
I use these funds in my 401k and they allow for opportunities not available through most 401k funds offered by employer plans. The individual and not government should have the ability to decide where to invest their funds. It should not require a specific status, we all should have equal access to the publicly traded investment vehicles.
Government and industry regulators should have no authority to prevent or restrict individual investors from investing in securities that are perfectly legal, regardless of an investor's personal understanding of such products. Informing investors is a great thing, but regulators have no right to require investors to undergo any kind of prerequisite educating or testing prior to trading
