While I agree there is increased risk to leveraged ETF's, I do not think they should be removed for investment by regulators. ETf's are a great way to make money in bear markets, and on certain sectors of the financial markets. I do believe in educating investors and warning them as much as possible about the increased risks and time decay of ETFs. Also any financial institution
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to: (1) amend Section 1 (General Information) of the Uniform Application for Securities Industry Registration or Transfer (“Form U4”) to add a new question eliciting information to identify locations as residential supervisory locations (“RSLs”); (2) amend FINRA Rule 3110.19(d) (Obligation to Provide List of RSLs to FINRA) to remove the reference to a list of RSLs and the quarterly timeframe for member firms to provide the list to FINRA and replace it with the requirement that member firms provide current information identifying all locations designated as RSLs in the frequency, manner and format as FINRA may prescribe; and (3) make conforming changes to Section 6 (Registration Requests with Affiliated Firms) of the Form U4 and amend the Form U4 Instructions to account for the new question soliciting RSL information (“RSL Question”).
The regulations are guaranteed to harm investors. Investors do not need protection from themselves. Investors who invest in “complex” financial instruments are individuals who understand the relationship between risk and reward. The proposed regulations will not deter individuals from making financially risky decisions. Instead, the regulations will encourage individuals to invest in riskier
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Leveraged ETFs have been an equalizer for my middle class family of 5. I wont use money on margin, and leveraged ETFs have allowed me to significantly increase our familys financial security into retirement. We are a young family as my wife and myself are under 40. We understand the risks, and have been able to utilize these financial instruments in a beneficial way that no other options can.
As an individual investor, I take full responsibility for my investment choices. Public investment tools should be available to all, not just the privileged. Leveraged and inverse funds, options, etc. are important financial tools in the portfolio. I sometimes use them for risk management. I am strongly against the proposal to limit the trading of such financial tools. I do not want to have to go
Dear FINRA: I am 100% behind your efforts to simplify regulations, level the playing field, and tighten down these abstruse financial instruments that allow the financial industry to poach on US citizens.
Our current consumer financial industry is comprise of grifters, lowlifes and future criminals whose only skill is seeking and creating instruments that bamboozle everyday investors.
Their
I must begin by saying that to restrict the rights I have to do with my earned money as I see fit, under which the law allows, is inconceivable, immoral and wrong. There are only a few major needs that humans require for life and money is one of them. Financial security is another. To restrict me or any other retail investor, or uneducated person as the very idea of restricting my right to invest
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Publication Date: February 23, 2023
Interpretations are marked in blue background beneath the rule text to which they relate.
17a-13 Quarterly security counts to be made by certain exchange members, brokers, and dealers.
17a-13(a) This section shall apply to every member of a national securities exchange who transacts a business in securities directly with or for others than members of a
