So first you restrict average people from utilizing options, trying to get them to jump through hoops and meet net worth requirements. (i.e. you can only play and protect your financial assets if you're already rich so that you can get richer). Then you don't let people participate in CFDs or other regular leverage utilized still by rich institutions and also the rest of the globe. But screw the average American, let's make sure they stay poor I guess and the rich get richer?
It's because of idiotic and inequality-inducing regulation like this that American citizenship for me is a BURDEN not a privilege. Add this regulation to restrict a measly 3X leveraged or inverse product where a person can never lose more than they put in and I will be looking to shed my useless citizenship even faster.
Eric Stalee Comment On Regulatory Notice 22-08
So first you restrict average people from utilizing options, trying to get them to jump through hoops and meet net worth requirements. (i.e. you can only play and protect your financial assets if you're already rich so that you can get richer). Then you don't let people participate in CFDs or other regular leverage utilized still by rich institutions and also the rest of the globe. But screw the average American, let's make sure they stay poor I guess and the rich get richer?
It's because of idiotic and inequality-inducing regulation like this that American citizenship for me is a BURDEN not a privilege. Add this regulation to restrict a measly 3X leveraged or inverse product where a person can never lose more than they put in and I will be looking to shed my useless citizenship even faster.
Thanks FINRA!