I should be able to choose the public
investments that are right for me and my family.
Public investments should be available to all of the public,
I am capable of understanding leveraged and inverse funds
and their risks. Regulators I do not need these restrictive
measures imposed on me. I am retired and I can guide my
financial affairs myself quite easily
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend Rule 2360 (Options) to increase the position and exercise limits for conventional options on certain exchange-traded funds (“ETFs”).
A democratic government should not second-guess the competency or plans of private citizens in their financial strategy. Are we going to be told how to dress and what we can eat next? Money is involved - people know they need to be careful. Any restriction will be government overreaching. We are not a totalitarian state - what other rights have become "negotiable"?
I have employed Leveraged ETFs for the past year without difficulty or undue financial damage and would like to have continued access. I did not (and do not now) have problems understanding the nature of these investments and do not want to pass a test to continue using them, especially by some person or automated "grader" that is not personally acquainted with me.
I have been engaged in the market for over 40 years. I utilize leveraged and inverse funds in a deliberative and judicious manner to balance my portfolio. I find it insulting that the proposed over-reaching regulations posted years after I have made my careful financial plans would severely penalize me in my retirement years.
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to adopt on a permanent basis the pilot program for Market-Wide Circuit Breakers in FINRA Rule 6121.02 (Market-wide Circuit Breakers in NMS Stocks).
I agree that investor education is critical and that both high level and detailed materials should be made more available that explain these products in terms that the average investor can understand. I oppose putting hurtles in the way of investors who want to use these products. Restrictions based on net worth or other financial metrics would be especially egregious.
I am upset and disappointed that FINRA is considering the placement of limitations on my investment capabilities. Why would you deny me the ability to choose investments that can help me financially? I believe I should have the right to determine if my investment decisions are too "complex" for me. Please don't discriminate against me as an investor.
I, as an investor and as a financial advisor, should be able to choose the publicly-traded investments that best fit my and my family's needs based on our goals, risk tolerance, and timeline without interference from regulators. It is my responsibility to educate myself on these type of investments before deciding whether or not they are appropriate for my and my family's
I M P O R T A N T
Officers * Partners * Proprietors
TO: All NASD Members
On April 12, 1984, the SEC issued Release No. 34-20853 requesting public comments on the NASDAQ Options Program. The text of this release, together with a document which provides an overview of the NASDAQ Options Program and a fact sheet highlighting major features of the program, are enclosed with this notice.
The
