At a time when the value of a dollar is being diluted daily, removing a key hedge used to preserve wealth and worse, limiting its use to high net worth individuals is unconscionable. Access to such instruments was democratized when they became exchange-traded, though some brokerage firms (e.g., Vanguard) already restrict access to them. I can understand the imposition of requirements on those trading the wealth of others, to ensure that their motives are clear, honorable, and exclusively in the best interest of those whose funds are being invested; however, restricting an individual investing their own funds in a way that makes sense to them is highly inappropriate. When this market breaks, and it will, the general public will have scant few hedges available to them. The American people need more access to mechanisms that can buffer the impact, not less. Being able to protect their respective portfolios will be critical in the long term, but this attempt to limit that to an elite class speaks volumes about the intent of this administration. Do the right thing, and allow us a say in what we do with what is ours.
Bryan Brandt Comment On Regulatory Notice 22-08
At a time when the value of a dollar is being diluted daily, removing a key hedge used to preserve wealth and worse, limiting its use to high net worth individuals is unconscionable. Access to such instruments was democratized when they became exchange-traded, though some brokerage firms (e.g., Vanguard) already restrict access to them. I can understand the imposition of requirements on those trading the wealth of others, to ensure that their motives are clear, honorable, and exclusively in the best interest of those whose funds are being invested; however, restricting an individual investing their own funds in a way that makes sense to them is highly inappropriate. When this market breaks, and it will, the general public will have scant few hedges available to them. The American people need more access to mechanisms that can buffer the impact, not less. Being able to protect their respective portfolios will be critical in the long term, but this attempt to limit that to an elite class speaks volumes about the intent of this administration. Do the right thing, and allow us a say in what we do with what is ours.