There is no good reason that investors of any kind should be segregated and barred from any type of public investment vehicles, especially not on account of available funds. This rule banning certain investors from inverse and leveraged investment vehicles would limit individual investment strategies and only benefit large institutions. It is fundamentally unfair and disrespectful to the intelligence of retail investors. All investors regardless of size need to have flexibility, leverage, and the ability to hedge in order to make sound investments, and there need not be a knowledge test for this either, as information is freely available everywhere about all types of investment vehicles. It is not regulators' job to police what publicly traded investment vehicles an investor may or may not buy and sell. Why not focus on the major problem of institutional naked shorting first? That is the greatest risk to market stability and fairness there is.
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Andrew Parker Comment On Regulatory Notice 22-08
There is no good reason that investors of any kind should be segregated and barred from any type of public investment vehicles, especially not on account of available funds. This rule banning certain investors from inverse and leveraged investment vehicles would limit individual investment strategies and only benefit large institutions. It is fundamentally unfair and disrespectful to the intelligence of retail investors. All investors regardless of size need to have flexibility, leverage, and the ability to hedge in order to make sound investments, and there need not be a knowledge test for this either, as information is freely available everywhere about all types of investment vehicles. It is not regulators' job to police what publicly traded investment vehicles an investor may or may not buy and sell. Why not focus on the major problem of institutional naked shorting first? That is the greatest risk to market stability and fairness there is.