Hello, I do not need the government to protect me. If I fail to understand how a financial product works it is not the fault of the government but the fault of myself as I failed to educate myself. I personally have done very well with leveraged products as I bought in during a market crash and sold a while later.
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Please do not restrict my ability to buy funds I think will improve my financial status. Leveraged and inverse funds allow me to take advantage of anomalies in the market and make more money. Putting restrictions on these type of funds will hurt me while widening the wealth gap.
I am 65 years old, and for years I have used leveraged funds to secure my financial future. Among other things, they are a very effective hedge against drawdowns in the market. I am not wealthy, and losing the ability to use leveraged funds would adversely affect my retirement.
FINRA,
I am a collegiate graduate in Finance and I understand the risks associated with each of my investments, and you have no right to bar me from these financial instruments. If this was the case, stupid people should be barred from the equity market entirely. This is wrong, and does not exemplify our ownership society.
I and all my investment peers are experienced investors with many years of work in the market. Government interference will hinder our ability to make use of many of the tools available to investors by financial institutions. We do not need, and do not want, the hand of government in our finances. Thank you.
Do not limit the availability of leveraged and inverse funds to retail investors with relatively small funding. The alternatives mostly seem to mostly include the use of much more complex financial instruments. Please leave this one alone. These etfs and etns allow an investor protection for other securities. Thanks
We all need protection to some degree, but we need freedoms at the same time. A stronger proposal could guide the investments themselves to provide better details on the investment.
Please do not hurt, disparage, and/or insult the potential of the American people to make their own financial decisions.
Please make sure that you impose stringent requirements for qualified investors to purchase complex securities, lest the financial industry put the economy at risk by duping thousands of naive investors as it has in the past. Also, consider outlawing especially dubious investments with no social utility, like cryptocurrency.
Summary
In February 2012, pursuant to an SEC order, FINRA established an accounting support fee (GASB Accounting Support Fee) to adequately fund the annual budget of the Governmental Accounting Standards Board (GASB). The GASB Accounting Support Fee is collected on a quarterly basis from member firms that report trades to the Municipal Securities Rulemaking Board (MSRB). Each member firm’s
