Please do NOT restrict the use of leveraged ETFs in ANY way. Just this proposal is outrageous: You think only rich and privileged people understand risk? How condescending is that? Leveraged ETFs are the only way for middle class investors to have a decent shot of moving out of the middle class as we aim to become financially independent. Almost all retail investors understand the risk and volatility involved in these ETFs; we still want to invest in these leveraged products (especially leveraged bull market products) only because this is our only chance to become financially independent. How out of touch from regular people do you have to be to propose this regulation? FINRA should note that, by Federal Law, they are only authorized to regulate financial products, not restrict them. I guess the Federal Government would rather just have hedge funds and other financial industry cronies (with their exclusive trading licenses) have unrestricted access to milk the financial market; all retail investors (us middle class "serfs") need to shut up and be obedient to our day jobs. But retail investors will not be silent. Leveraged ETFs are the lifeline of those aiming for financial independence without elite university degrees or inherited fortune. Restricting these in ANY way is a direct attack on non-elite, middle class people, who FINRA is deeming as the uneducated lot. Let's see whose side FINRA chooses: the hedge funds who would love exclusive access to leveraged products, or regular people using leveraged ETFs to get out of the wage prison.
Anonymous Comment On Regulatory Notice 22-08
Please do NOT restrict the use of leveraged ETFs in ANY way. Just this proposal is outrageous: You think only rich and privileged people understand risk? How condescending is that? Leveraged ETFs are the only way for middle class investors to have a decent shot of moving out of the middle class as we aim to become financially independent. Almost all retail investors understand the risk and volatility involved in these ETFs; we still want to invest in these leveraged products (especially leveraged bull market products) only because this is our only chance to become financially independent. How out of touch from regular people do you have to be to propose this regulation? FINRA should note that, by Federal Law, they are only authorized to regulate financial products, not restrict them. I guess the Federal Government would rather just have hedge funds and other financial industry cronies (with their exclusive trading licenses) have unrestricted access to milk the financial market; all retail investors (us middle class "serfs") need to shut up and be obedient to our day jobs. But retail investors will not be silent. Leveraged ETFs are the lifeline of those aiming for financial independence without elite university degrees or inherited fortune. Restricting these in ANY way is a direct attack on non-elite, middle class people, who FINRA is deeming as the uneducated lot. Let's see whose side FINRA chooses: the hedge funds who would love exclusive access to leveraged products, or regular people using leveraged ETFs to get out of the wage prison.