Reporting Requirements for Settlements of Customer Disputes Involving Auction Rate Securities
It's a dumb rule and may push people to more dangerous investments, like the gambling parlor we call the options market. The holdings of these etfs are made known to people and are fairly easy to understand. Instead of buying AAPL and MSFT individually, I can buy TECL with the added bonus of NVDA.
It's not the place of federal regulators to decide whether an investor is "smart enough" for particular commodities, nor to impose means testing that discriminates against the less affluent. Further, such rules could impose a disparate impact on minority communities given the current wealth distribution, and village civil rights laws.
Bob Getty finds these new attempt at rules to be just more government -sticking its nose were it does not belong -butt off and stay out of peoples private lives and cut taxes and inflation -do the real job that you are paid excessively too much for inept work !!!!!!!
I should not have to prove my net worth to invest in certain securities. Plenty of people with low net worths have the self-knowledge to invest safely in any security they want. You are not responsible for my money. I am. I will no longer have any faith in the US market if this rule is not thrown out.
I have the right, whether you believe I have enough money or not, to invest in whatever strategy I may want, whether incredibly complex or simple. There is ZERO correlation between net worth, and self-knowledge about investment strategies. I will lose all faith in the worlds largest FREE market if this rule is implemented.
Comments:
I believe leveraged ETFs are an important part of diversifying an investment portfolio. The issuers give plenty of disclosure as to the risks inherent with these investments. In addition, there are numerous articles on the internet that discuss the risks of leveraged ETFs.
Please leave the current rules and disclosures in place and do not add additional burdens on the issuers.
I believe this is an unfair rule thats trying to take place. Investing is part of our rights of freedom and freedom to what we please with investments and money! We should be able to choose the public investments that are right for my family and I! Public investments should be available to all of the public not just the privileged.
I routinely hold and trade leveraged ETFs and I know what my risk tolerance and objectives are for these investments. I do not see any need to add additional layers of rules or regulations to my trading strategy. Please do not impose additional requirements that will make supporting my family more difficult.
Please allow us to continue to buy leveraged investments. The hedge funds are allowed to make such investments. You would be creating a two-class society if you made such a rule. I love leveraged funds as they make investing easy. I can hold cash and place a portion of my funds in leveraged securities.
