Dear FINRA Policy Makers: ETFs and complex inverse and leveraged ETFs have now been around for almost two decades. Why do you want to make "enhancements" that are actually are in fact "detractions" for individual investors and put them BACK into a position of not having access to ways to protect their portfolios, use hedging strategies without having significant amount of knowledge of various options strategies, and actually use LESS dollars to have an overweight position in a particular market, sector or strategy? The mere suggestion that there should be processes for brokerage firms to quality legally entitled investors to use L&I Funds flies in the face of a free market society, and it smells like a way to limit American citizens who are not in the top one percent from having ACCESS to similar strategies as the top one percent and keep Americans from actually having the opportunity to create wealth for themselves as well as protect capital during market routs. The truth is you all should be ashamed of trying to limit these sorts of products that put more options in the hands of the common man. There are already appropriate disclosures and prospectuses and websites on these sorts of investments. People are not stupid. Leave them to make their own investment decisions for themselves alone with a trusted advisor. You have no business potentially locking out the average American in yet another manner to just let the rich get richer and leave the rest of Americans behind. Leave things alone instead of adding yet another barrier to entry for the other 99%.
C. Torian Comment On Regulatory Notice 22-08
Dear FINRA Policy Makers: ETFs and complex inverse and leveraged ETFs have now been around for almost two decades. Why do you want to make "enhancements" that are actually are in fact "detractions" for individual investors and put them BACK into a position of not having access to ways to protect their portfolios, use hedging strategies without having significant amount of knowledge of various options strategies, and actually use LESS dollars to have an overweight position in a particular market, sector or strategy? The mere suggestion that there should be processes for brokerage firms to quality legally entitled investors to use L&I Funds flies in the face of a free market society, and it smells like a way to limit American citizens who are not in the top one percent from having ACCESS to similar strategies as the top one percent and keep Americans from actually having the opportunity to create wealth for themselves as well as protect capital during market routs. The truth is you all should be ashamed of trying to limit these sorts of products that put more options in the hands of the common man. There are already appropriate disclosures and prospectuses and websites on these sorts of investments. People are not stupid. Leave them to make their own investment decisions for themselves alone with a trusted advisor. You have no business potentially locking out the average American in yet another manner to just let the rich get richer and leave the rest of Americans behind. Leave things alone instead of adding yet another barrier to entry for the other 99%.