I find it disturbing that your agency wants to take away my ability to pick investments based on my research and ability to decide how much or little to risk in very common market instruments. Why should I have to take a test to prove to you - unnamed bureaucrats - that I understand the risks and potential rewards of these instruments and what I do with my money.+ What tests can predict the future? I therefore use a very limited part of my portfolio to hedge against an unknown future. Not having the freedom to choose is a perfect way to drive people out of the markets and leave it all to big funds and computer algorithms. This is a terrible rule you're considering. You don't have to do anything to do your job well. Leave it alone.
James Paty Comment On Regulatory Notice 22-08
I find it disturbing that your agency wants to take away my ability to pick investments based on my research and ability to decide how much or little to risk in very common market instruments. Why should I have to take a test to prove to you - unnamed bureaucrats - that I understand the risks and potential rewards of these instruments and what I do with my money.+ What tests can predict the future? I therefore use a very limited part of my portfolio to hedge against an unknown future. Not having the freedom to choose is a perfect way to drive people out of the markets and leave it all to big funds and computer algorithms. This is a terrible rule you're considering. You don't have to do anything to do your job well. Leave it alone.