I support FINRA Regulatory Notice #22-08. Complex investment scheme should be limited as they're deemed to be highly risky for lay person. Greedy broker and fund investors take high commissions and fees while tricking people those funds are in high yield.
For people would like to invest, they NEED:
Pass a regulator-imposed test of your specialized investment knowledge
Demonstrate a high net worth
Get special approval from your broker
Attest to reading certain materials
Go through cooling off periods during which you cant invest
James Black Comment On Regulatory Notice 22-08
I support FINRA Regulatory Notice #22-08. Complex investment scheme should be limited as they're deemed to be highly risky for lay person. Greedy broker and fund investors take high commissions and fees while tricking people those funds are in high yield.
For people would like to invest, they NEED:
Pass a regulator-imposed test of your specialized investment knowledge
Demonstrate a high net worth
Get special approval from your broker
Attest to reading certain materials
Go through cooling off periods during which you cant invest