Christopher Proctor Comment On Regulatory Notice 22-08
Christopher Proctor
N/A
To FINRA,
The United States has always thrived as a free economy, and if many of these complex products are made unavailable to the lower net worth or individuals not formally educated, it will only hurt the little man. How is a person who cant even make it past the $25,000 limit on day trading supposed to effectively hedge without using leveraged products or options? It is my personal opinion that the limits already imposed force the less wealthy into riskier and riskier trades. There are many issues that do require serious inquiry, such as the rise of pump and dump schemes, but the answer is not to go backwards completely. We now, thanks largely to reduction in trading commissions, have an enormous segment of our youth who are now seriously invested in and interested in securities. This will pay huge dividends in the future as these young people stay interested in their personal finances. I beg of you not to do anything that strips these people of their ability to participate in what is supposed to be a free market. Do not forget who and what caused the last financial crisis, and who was most affected. It was those people, like me and my parents, who suffered as their money tied away in funds they couldnt control lost half their net worth or more evaporate in a matter of weeks. Please dont take away our right to manage our money how we see best for ourselves and our families.
Christopher Proctor Comment On Regulatory Notice 22-08
To FINRA,
The United States has always thrived as a free economy, and if many of these complex products are made unavailable to the lower net worth or individuals not formally educated, it will only hurt the little man. How is a person who cant even make it past the $25,000 limit on day trading supposed to effectively hedge without using leveraged products or options? It is my personal opinion that the limits already imposed force the less wealthy into riskier and riskier trades. There are many issues that do require serious inquiry, such as the rise of pump and dump schemes, but the answer is not to go backwards completely. We now, thanks largely to reduction in trading commissions, have an enormous segment of our youth who are now seriously invested in and interested in securities. This will pay huge dividends in the future as these young people stay interested in their personal finances. I beg of you not to do anything that strips these people of their ability to participate in what is supposed to be a free market. Do not forget who and what caused the last financial crisis, and who was most affected. It was those people, like me and my parents, who suffered as their money tied away in funds they couldnt control lost half their net worth or more evaporate in a matter of weeks. Please dont take away our right to manage our money how we see best for ourselves and our families.