I was forced into early retirement as a result of Covid. As such, I was forced into living off my IRA earlier than planned. I have been investing and trading for 45 years. I am a small retail trader. I occasionally employ the use of leveraged and inverse ETFs to protect against losses or to enhance returns with due regard for their intended purpose. Through the use of these "complex produces", I am able to grow my IRA and generate income to secure my financial wellbeing and financial security far more effectively than my Social Security is growing at it's current meager 2% not even beating inflation or the S&P.
Those who market these "complex Products" have done their part in providing notice of the risks involved conspicuously displayed on their websites. I also receive email and paper mailings of the same from all the vendors I've done business with. Fidelity requires that I read, understand and sign notification that I understand the associated risk. Anyone who trades these "complex products" Is required to do the same. The information is already there.
All investments involve risk. Singling out one sector, these "complex products" and L&I Funds, is biased and prejudiced against a single industry.
Any further regulation, restriction to these "complex products" will cause increased difficulty in protecting investments leading to greater losses and will be detrimental to many who now rely on our many years of knowledge and experience to protect and grow our financial assets to keep up with inflation and grow our financial security for our future.
I urge FINRA to NOT change or increase current regulation toward "complex products or L&I Funds.
There is a problem FINRA should address and that is Government Officials buying, selling, trading stock while they are in office. This is clearly trading on "inside information" and is a violation of law if not ethics. Fix that problem!
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Gery Williams Comment On Regulatory Notice 22-08
Comments: Regarding FINRA Regulatory Notice 22-08.
I was forced into early retirement as a result of Covid. As such, I was forced into living off my IRA earlier than planned. I have been investing and trading for 45 years. I am a small retail trader. I occasionally employ the use of leveraged and inverse ETFs to protect against losses or to enhance returns with due regard for their intended purpose. Through the use of these "complex produces", I am able to grow my IRA and generate income to secure my financial wellbeing and financial security far more effectively than my Social Security is growing at it's current meager 2% not even beating inflation or the S&P.
Those who market these "complex Products" have done their part in providing notice of the risks involved conspicuously displayed on their websites. I also receive email and paper mailings of the same from all the vendors I've done business with. Fidelity requires that I read, understand and sign notification that I understand the associated risk. Anyone who trades these "complex products" Is required to do the same. The information is already there.
All investments involve risk. Singling out one sector, these "complex products" and L&I Funds, is biased and prejudiced against a single industry.
Any further regulation, restriction to these "complex products" will cause increased difficulty in protecting investments leading to greater losses and will be detrimental to many who now rely on our many years of knowledge and experience to protect and grow our financial assets to keep up with inflation and grow our financial security for our future.
I urge FINRA to NOT change or increase current regulation toward "complex products or L&I Funds.
There is a problem FINRA should address and that is Government Officials buying, selling, trading stock while they are in office. This is clearly trading on "inside information" and is a violation of law if not ethics. Fix that problem!
Kind Regards,