FINRA regulators: Please do not add additional regulation to leveraged and inverse funds as proposed in rule #S7-24-15: Why? 1. These are ALREADY public products APPROVED by the SEC and INCLUDE clear risk warnings. Why impose higher hurdles that would PRECLUDE my ability to use these products. I am specifically concerned about the condition to demonstrate high net worth as I am a small investor. 2. As a small investor, I use these products to HEDGE and protect my position during bear markets or during periods of high volatility. Your high net worth requirement would PRECLUDE my ability to do so. Is that fair? 3. IF the SEC continues to close hedge and leveraged products to small investors via high net worth tests, you will push us to higher risk situations like futures. Thank you for considering my concerns during your comment period.
Ernest Downes Comment On Regulatory Notice 22-08
FINRA regulators: Please do not add additional regulation to leveraged and inverse funds as proposed in rule #S7-24-15: Why? 1. These are ALREADY public products APPROVED by the SEC and INCLUDE clear risk warnings. Why impose higher hurdles that would PRECLUDE my ability to use these products. I am specifically concerned about the condition to demonstrate high net worth as I am a small investor. 2. As a small investor, I use these products to HEDGE and protect my position during bear markets or during periods of high volatility. Your high net worth requirement would PRECLUDE my ability to do so. Is that fair? 3. IF the SEC continues to close hedge and leveraged products to small investors via high net worth tests, you will push us to higher risk situations like futures. Thank you for considering my concerns during your comment period.