FINRA's role is supposed to be to protect the public from unscrupulous brokerage firms and investment advisors. It's NOT supposed to be about treating the public as if they are children and need to have their hand's held while you tell us what we can and cannot do. I've been investing for over 30 years but just discovered leveraged ETFs, such as SPXL/SPXS and TQQQ/SQQQ in March of 2020. They were the perfect investments as we recovered from the Covid Crash.They didn't require any special knowledge to know what they were, how risky they were, or when I should and should not be using them as investment tools. I'm not a genus investor; I'm just a regular everyday guy who needs to be sure his retirement nest egg can, at least, keep up with inflation. Don't treat the majority of us like babies because 0.0001% of the investing population can't read a prospectus or research an investment online. Those people will learn through their own mistakes - that's life. The vast majority of us know what we are doing and don't need the over-bearing hand-holding of yet another government organization. Treat us as adults. We know what we are doing.
Jeff Robinson Comment On Regulatory Notice 22-08
FINRA's role is supposed to be to protect the public from unscrupulous brokerage firms and investment advisors. It's NOT supposed to be about treating the public as if they are children and need to have their hand's held while you tell us what we can and cannot do. I've been investing for over 30 years but just discovered leveraged ETFs, such as SPXL/SPXS and TQQQ/SQQQ in March of 2020. They were the perfect investments as we recovered from the Covid Crash.They didn't require any special knowledge to know what they were, how risky they were, or when I should and should not be using them as investment tools. I'm not a genus investor; I'm just a regular everyday guy who needs to be sure his retirement nest egg can, at least, keep up with inflation. Don't treat the majority of us like babies because 0.0001% of the investing population can't read a prospectus or research an investment online. Those people will learn through their own mistakes - that's life. The vast majority of us know what we are doing and don't need the over-bearing hand-holding of yet another government organization. Treat us as adults. We know what we are doing.