Please allow my research and judgement to decide the best investment vehicles for my money. All tools require effort and time to learn. None are more complex than others. ETPs like Inverse ETF funds go the opposite direction of a benchmark. How is this difficult to understand? In fact, in my ROTH IRA this is the safest means to hedge against the market going lower. I don't want to go through special approvals or tests to buy any ETP such as an ETF. Their purpose, objective & method of operational are clearly explained. I favor allowing creative individuals to provide products that help me achieve a successful outcome. Please do not overcomplicate a process that works well.
Also, don't limit options trading. A wealth of information exists for free on the internet -- with regard on how to use them successfully. And yes, options have rules, cut-off times & greater movement based on volatility. This means greater opportunities for rewards with the risk of potentially swifter losses. This is one excellent benefit of options. For those who hustle and do their homework, a great reward is possible. For those who take the word of a broker & don't know what they're doing/asking for -- this is far from the "Complex Products" fault.
In fact, I was appalled at reading the examples in Regulatory Notice 22-08 where losses occurred because members failed to manage/supervise their employees properly. These examples are 100% failures in management, ethical business practices & day-to-day operations. They ARE-NOT caused by the so call "Complex Products". The individuals affect should convince other retail investors in mass to take their business elsewhere. This is the true penalty for a business that employees individuals who operate with compromised/gray-area ethic decisions... Again, the individual retail investor placing so much trust without subsequent verification & self-education is at fault here. No additional testing nor assertions or FINRA imposed education regulations will stop this behavioral pattern. The compromise of ethics (e.g. financial representative) to get a reward when the financial representative should-have-known-better is a behavioral pattern as old as time. In fact, should additional regulations be placed on retail stores because they occasional provide incorrect change -- after a transaction? Again, this falls on the shopper in this case to confirm they were give the correct change. Applying additional regulations to make sure a shopper correctly counts their change is silly. In the same analogous context, so goes the idea to further regulate the so called "Complex Products" in notice 22-08.
Let the free market continue to operate within the existing regulations. Let clever individuals develop clever products to meet unique investing needs. Let the Retail Investors decide what works best for them. Let the Retail Investor who does not self-education appropriately receive the appropriate outcome for their decision...
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James Falkner Comment On Regulatory Notice 22-08
Please allow my research and judgement to decide the best investment vehicles for my money. All tools require effort and time to learn. None are more complex than others. ETPs like Inverse ETF funds go the opposite direction of a benchmark. How is this difficult to understand? In fact, in my ROTH IRA this is the safest means to hedge against the market going lower. I don't want to go through special approvals or tests to buy any ETP such as an ETF. Their purpose, objective & method of operational are clearly explained. I favor allowing creative individuals to provide products that help me achieve a successful outcome. Please do not overcomplicate a process that works well.
Also, don't limit options trading. A wealth of information exists for free on the internet -- with regard on how to use them successfully. And yes, options have rules, cut-off times & greater movement based on volatility. This means greater opportunities for rewards with the risk of potentially swifter losses. This is one excellent benefit of options. For those who hustle and do their homework, a great reward is possible. For those who take the word of a broker & don't know what they're doing/asking for -- this is far from the "Complex Products" fault.
In fact, I was appalled at reading the examples in Regulatory Notice 22-08 where losses occurred because members failed to manage/supervise their employees properly. These examples are 100% failures in management, ethical business practices & day-to-day operations. They ARE-NOT caused by the so call "Complex Products". The individuals affect should convince other retail investors in mass to take their business elsewhere. This is the true penalty for a business that employees individuals who operate with compromised/gray-area ethic decisions... Again, the individual retail investor placing so much trust without subsequent verification & self-education is at fault here. No additional testing nor assertions or FINRA imposed education regulations will stop this behavioral pattern. The compromise of ethics (e.g. financial representative) to get a reward when the financial representative should-have-known-better is a behavioral pattern as old as time. In fact, should additional regulations be placed on retail stores because they occasional provide incorrect change -- after a transaction? Again, this falls on the shopper in this case to confirm they were give the correct change. Applying additional regulations to make sure a shopper correctly counts their change is silly. In the same analogous context, so goes the idea to further regulate the so called "Complex Products" in notice 22-08.
Let the free market continue to operate within the existing regulations. Let clever individuals develop clever products to meet unique investing needs. Let the Retail Investors decide what works best for them. Let the Retail Investor who does not self-education appropriately receive the appropriate outcome for their decision...