I write to you in strong opposition to the proposed rule changes to which this public comment refers. I understand and applaud FINRA's desire to protect consumers - however I must insist you find a different way to do it. Simply restricting my access as an individual investor to a broad range of investments doesn't serve to protect me - it serves to drive my investing into underground, risky, and possibly illegal enterprises. I am capable of both understanding the structures, risks and intended outcomes of various leveraged & inverse funds, and of determining the appropriateness of those investments for my particular situation. I invest in products like this regularly, because they are a critical part of my long-term investment strategy. In particular, since I am not a registered investor - a personal choice I've made (I left a high-paying sales job in order to pursue a career that felt more meaningful) - I do not have direct access to many of the investment strategies I would prefer to utilize. The only way for me to participate in things such as emerging markets funds, commodities & forex, as well as to make proper investments based on my assessment of the market (to bet short), as well as my ability to protect myself through options trading, is through use of products that I would potentially lose access to under this proposed rule. These products are a critical part of my diversification strategy.
Furthermore with respect to crypto-based products specifically - I already invest directly in crypto markets through both centralized and decentralized exchanges. It is a shame that our regulatory structure is so ridiculously outdated that I can't make any of those investments within my tax-advantaged retirement accounts, since they are producing my best returns. Access to crypto markets through ETFs and other products that I can trade within my retirement accounts is a very important part of my retirement plan. I am aware of the risks involved - but more importantly, I believe in the power of crypto-based technologies to radically change the world for the better in the coming decades, and I am going to invest in that whether you tell me I can or not because I believe in it.
Ian Conners Comment On Regulatory Notice 22-08
I write to you in strong opposition to the proposed rule changes to which this public comment refers. I understand and applaud FINRA's desire to protect consumers - however I must insist you find a different way to do it. Simply restricting my access as an individual investor to a broad range of investments doesn't serve to protect me - it serves to drive my investing into underground, risky, and possibly illegal enterprises. I am capable of both understanding the structures, risks and intended outcomes of various leveraged & inverse funds, and of determining the appropriateness of those investments for my particular situation. I invest in products like this regularly, because they are a critical part of my long-term investment strategy. In particular, since I am not a registered investor - a personal choice I've made (I left a high-paying sales job in order to pursue a career that felt more meaningful) - I do not have direct access to many of the investment strategies I would prefer to utilize. The only way for me to participate in things such as emerging markets funds, commodities & forex, as well as to make proper investments based on my assessment of the market (to bet short), as well as my ability to protect myself through options trading, is through use of products that I would potentially lose access to under this proposed rule. These products are a critical part of my diversification strategy.
Furthermore with respect to crypto-based products specifically - I already invest directly in crypto markets through both centralized and decentralized exchanges. It is a shame that our regulatory structure is so ridiculously outdated that I can't make any of those investments within my tax-advantaged retirement accounts, since they are producing my best returns. Access to crypto markets through ETFs and other products that I can trade within my retirement accounts is a very important part of my retirement plan. I am aware of the risks involved - but more importantly, I believe in the power of crypto-based technologies to radically change the world for the better in the coming decades, and I am going to invest in that whether you tell me I can or not because I believe in it.