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Cristiano Manfre Comment On Regulatory Notice 22-08

Cristiano Manfre
N/A

FINRAs measures are at odds with Americas long-standing disclosure-based system, which gives investors and their advisors the freedom to make their own investment decisions.
Brokers and individual investors not regulators should be able to choose the investments that are right for their clients or themselves. Public securities should be accessible to all of the public, not just the privileged.
You should not be required to put clients through special processes like passing a test before they can invest in public securities. It is your job to understand securities that your advised clients invest in.
Finally, the proposed regulation would harm investors by denying them access to a broad range of valuable investments that could help them achieve long-term financial security. Investors are adults and do not need the regulator to hold their hands. The direction regulation is going is dangerous and it is harming freedom and free markets.