This proposed regulation does nothing but harm. The sentiment to protect unknowledgeable retail investors is not lost, but it is the right of these people (myself included) to invest in these strategies just as much as someone with more money and knowledge. This prevents middle-class and lower class investors that desire to elevate their investing portfolios and abilities from doing so, there is no other way to explain it. It is asinine to prevent access and freedom in the name of "protection," or whatever the justification for such regulation is. There is the understanding that some retail traders can be reckless and lose hordes of money via the so-called "complex strategies." Consider this, though - one is free to go to McDonald's and order as many Big Macs as desired and eat every single one, no matter the consequences to the aforementioned person's health. Why should it not be the same for assets? It is the person's right to choose how he or she invests money, not the government. Placing access to assets behind such absurd barriers only does harm and restricts Americans' freedoms.
Andrew Denard Comment On Regulatory Notice 22-08
This proposed regulation does nothing but harm. The sentiment to protect unknowledgeable retail investors is not lost, but it is the right of these people (myself included) to invest in these strategies just as much as someone with more money and knowledge. This prevents middle-class and lower class investors that desire to elevate their investing portfolios and abilities from doing so, there is no other way to explain it. It is asinine to prevent access and freedom in the name of "protection," or whatever the justification for such regulation is. There is the understanding that some retail traders can be reckless and lose hordes of money via the so-called "complex strategies." Consider this, though - one is free to go to McDonald's and order as many Big Macs as desired and eat every single one, no matter the consequences to the aforementioned person's health. Why should it not be the same for assets? It is the person's right to choose how he or she invests money, not the government. Placing access to assets behind such absurd barriers only does harm and restricts Americans' freedoms.