I am writing in opposition to limiting, and/or curtailing, access to certain complex trades. Limiting access to the general public promotes a preferred class and thus discriminates. Mandating qualifications further promulgates class distinction, in the guise of evaluating financial literacy. It perpetuates an old-boy culture.
Free and open trade should be supported; not denied. Individual choices should be respected; not mandated to conform to out-dated perspectives.
Of course, people should know what they are doing. Ignorance is not bliss. Nor is an overly regulated environment.
Personally, I extensively use leveraged funds at @10% portfolio along with options. My overall return is acceptable; better than I experienced when managed by professionals. I am quite conservative.
I have no interest in taking a test, explaining my qualifications, or otherwise proving my financial literacy; or, paying (directly or indirectly), for the right to trade. Choice is an individual decision.
Provide guidance as you wish. But always Caveat Emptor
John Newton Comment On Regulatory Notice 22-08
I am writing in opposition to limiting, and/or curtailing, access to certain complex trades. Limiting access to the general public promotes a preferred class and thus discriminates. Mandating qualifications further promulgates class distinction, in the guise of evaluating financial literacy. It perpetuates an old-boy culture.
Free and open trade should be supported; not denied. Individual choices should be respected; not mandated to conform to out-dated perspectives.
Of course, people should know what they are doing. Ignorance is not bliss. Nor is an overly regulated environment.
Personally, I extensively use leveraged funds at @10% portfolio along with options. My overall return is acceptable; better than I experienced when managed by professionals. I am quite conservative.
I have no interest in taking a test, explaining my qualifications, or otherwise proving my financial literacy; or, paying (directly or indirectly), for the right to trade. Choice is an individual decision.
Provide guidance as you wish. But always Caveat Emptor
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