Dear FIRA regulators, the effort to limit the ability for average Americans to enjoy the fruits of investing in these instruments is yet another example of Government overreach. If anything, the investor of today is more knowledgeable than when I started investing over 30+ years ago. I think the existing limits in place today are sufficient to protect the public. I know that limiting these investments will greatly reduce the potential for Americans to supplement their income in retirement. Social Security and Medicare are going broke, the US is sporting a 30+ trillion dollar deficit, companies no longer have pensions, yearly earnings on bonds and savings accounts can barely cover a cup of coffee and now you want to over regulate a way for retirees to try and stay solvent. While some investors could pass a test, the majority would not. Not to mention that I am sure it would be multiple pages with a few gotcha questions. Again, onerous rules are made to purposely limit the American people from achieving their goals by forcing them to use pure vanilla strategies. Respectfully, please do not activate these draconian rules.
David Denton Comment On Regulatory Notice 22-08
Dear FIRA regulators, the effort to limit the ability for average Americans to enjoy the fruits of investing in these instruments is yet another example of Government overreach. If anything, the investor of today is more knowledgeable than when I started investing over 30+ years ago. I think the existing limits in place today are sufficient to protect the public. I know that limiting these investments will greatly reduce the potential for Americans to supplement their income in retirement. Social Security and Medicare are going broke, the US is sporting a 30+ trillion dollar deficit, companies no longer have pensions, yearly earnings on bonds and savings accounts can barely cover a cup of coffee and now you want to over regulate a way for retirees to try and stay solvent. While some investors could pass a test, the majority would not. Not to mention that I am sure it would be multiple pages with a few gotcha questions. Again, onerous rules are made to purposely limit the American people from achieving their goals by forcing them to use pure vanilla strategies. Respectfully, please do not activate these draconian rules.