I am a retired lawyer with a high IQ. I have been trading leveraged and inverse funds for over ten years. Restrictions based upon net worth and approval of a broker are discriminatory to favor the rich. I have noticed the same thing about margin restrictions. The restrictions are there to favor the rich and powerful. I do not need nor want your oversite in my life. This is basically class discrimination designed to keep people with less money and less opportunity in their place. Your proposed regulations are not needed. There are plenty of laws and regulations on the books to protect investors. Such regulations as you propose are simply designed to grant privileges to one class of people and deny the same privileges to others. It kind of sounds like how WOKE works. Some of us get cancelled and other do not. We do not need nor want 1984 "Big Brother".
Gary Sackrider Comment On Regulatory Notice 22-08
I am a retired lawyer with a high IQ. I have been trading leveraged and inverse funds for over ten years. Restrictions based upon net worth and approval of a broker are discriminatory to favor the rich. I have noticed the same thing about margin restrictions. The restrictions are there to favor the rich and powerful. I do not need nor want your oversite in my life. This is basically class discrimination designed to keep people with less money and less opportunity in their place. Your proposed regulations are not needed. There are plenty of laws and regulations on the books to protect investors. Such regulations as you propose are simply designed to grant privileges to one class of people and deny the same privileges to others. It kind of sounds like how WOKE works. Some of us get cancelled and other do not. We do not need nor want 1984 "Big Brother".