I respect the right of regulators to watch out for retail investors, but I do not need you to limit my access to leveraged financial products. Similar to PDT rules, these are impotent and silly regulations. Please reconsider your decision to pursue this course of action.
Please do not limit the ability of investors to participate in their own financial and investment decisions. It is always clear that investment carries risk, and leveraged and inverse funds are no different. I strongly oppose any limitation on investors ability to determine their own investment plan.
It's bad enough that financial markets are stacked against the little guy. Restricting market tradable products like these just continues to tilt the playing field towards Wall Street. Do not restrict us from leveraged / inverse funds!
Knowledgeable investors should be free to invest in any listed security within their risk tolerance and financial level. Government can and should protect against fraud but should not pick winners and losers. Individuals and the market place are the best arbiters of value.
The risks with leveraged ETFs are very well accessible to the public. Investors have the right to take such decisions that result in a volatile portfolio. I may be a professional financial analyst, but leveraged ETFs should be available to anyone willing to learn and take the risks associated.
I am a licensed broker and financial advisor with industry credentials and could likely meet most of the criteria FINRA proposes to impose. However, I believe it's morally unjust and politically undemocratic to restrict the use of powerful investment tools to the wealthy and well-connected.
I as an investor who chose to do my own research on a variety of public securities after seeking the advice of a financial advisor and broker am confident in my own abilities and do not require coddling and layers of testing and restrictions on my portfolio.
FINRA Reminds Firms of Rule 5131(d)(4)'s Prohibition on Accepting Market Orders for the Purchase of New Issues Prior to the Commencement of Trading on the Secondary Market
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“Commission”) a proposed rule change to adopt supplementary material .18 (Remote Inspections Pilot Program) under FINRA Rule 3110 (Supervision).
This filing has been withdrawn.
I have every right to make my own financial decisions. Its on me to do my due diligence when selecting investments, not FINRA. FINRA has no right to deprive me of investment vehicles of my choosing for any reason.
