I find the proposed FINRA's potential regulations notice 22-08 as it will put undo restrictions on my ability to invest as an individual. The current proposed requirement for a test is not fully defined nor is the process in which it will be administered defined. Who will prepare the study material, who will administer the test, and how long is the certification valid after you pass the test? There are no answers to these and other questions. It is also unclear as to why this regulation is needed and to what securities/ETFs this would apply to and what if those targeted securities are already owned, would the owner then be forced to divest them if they failed the test.
This proposed regulation is a poorly thought-out process and unduly restrictive and should not be moved forward.
Dana Hollis Comment On Regulatory Notice 22-08
I find the proposed FINRA's potential regulations notice 22-08 as it will put undo restrictions on my ability to invest as an individual. The current proposed requirement for a test is not fully defined nor is the process in which it will be administered defined. Who will prepare the study material, who will administer the test, and how long is the certification valid after you pass the test? There are no answers to these and other questions. It is also unclear as to why this regulation is needed and to what securities/ETFs this would apply to and what if those targeted securities are already owned, would the owner then be forced to divest them if they failed the test.
This proposed regulation is a poorly thought-out process and unduly restrictive and should not be moved forward.