This is absurd. I am quite willing and capable of making my own financial decisions. Leveraged instruments are used many different ways in addition to speculating. Hedging, for one very important application. Those of us that are professional and/or serious traders NEED instruments like these. It LOWERS our risk, it dos not increase our risk.
I oppose the proposed new FINRA regulations that would restrict investment in leveraged and inverse funds. They are an important part of many investors portfolios, with good reason, as they can help maintain financial stability (as in recent months). Also the definition of complex products is so broad, arbitrary and vague that it could ensnare a vast number of commonly used public securities.
My family's long-term investment plan includes leveraged ETFs. Our financial decisions have been made under the assumption leveraged ETFs would be available in the future. The SEC has already approved these funds. We don't need FINRA to hold our hands. Please don't assume you're smarter than we are.
I believe everyone should have the same privilege to choose their investment. There shouldn't be a special test for the public investors to gain right to invest in such investment like leveraged and inverse funds. I believe in the US economy and long term leveraged bet on US economy is the only way to gain the financial freedom. Please don't take this away from me.
I would prefer to have the freedom and flexibility to make the financial decisions that are best for me and my family. That means being able to determine for myself whether an investment vehicle is too complex. This is not something I trust FINRA to regulate better than I can regulate for myself. The proposed intervention is unwelcome, unwise and oversteps the authority that FINRA should wield.
To may it whom concern,
I believe its unfair to regulate leveraged investments in te middle of a financial "crisis". The stock is deeply down, so it could be a measure that affects an important amount of people and their welth. I, Rafael Sanabria, invested on these ETFs knowing the risk that they imply in my portfolio. Please let us trade by ourselves.
Thank you for listening
Hello, LETF leveled the playing field and I can manage my own investment. I understand the risks and do not need FINRA to protect me from complex instruments. Whoever is supporting more regulations are people who have financial motive to "educate" and "help" retail investors for a fee of course.
Remarks by Chairman and CEO Richard Ketchum at the FINRA Annual Conference
Dear sir,
I want to state my opposition to the proposed rule, potentially limiting the financial products in which I can invest. I am confident that I can make that decision best for myself and I am opposed to regulation that limits my choices based on someone else's judgment. There are already many regulatory safeguards in place. This is an unneeded and damaging addition.
I strongly object to proposed restrictions on my personal investment options for our family's retirement income strategy, including buying leveraged and inverse funds. I'm quite pleased with and confident in my relationship with my financial advisor in this regard, and am very much opposed to the addition of new gates and hurdles in the process, no matter how well intended.
