I agree that education into the operation and risks of more complex products should become a mandatory prerequisite to invest/trade in them, the other proposed changes are a step too far and I believe not required.
Perhaps a brief synopsis of a product the first time that it is being requested for execution for an account, is forced upon the executor to follow through some required reading. This could then be followed by a few relatable questions that have to be answered correctly (multiple choice format), that if answered incorrectly prevents trade execution and the whole process has to be repeated until correct.
John Tighe Comment On Regulatory Notice 22-08
I agree that education into the operation and risks of more complex products should become a mandatory prerequisite to invest/trade in them, the other proposed changes are a step too far and I believe not required.
Perhaps a brief synopsis of a product the first time that it is being requested for execution for an account, is forced upon the executor to follow through some required reading. This could then be followed by a few relatable questions that have to be answered correctly (multiple choice format), that if answered incorrectly prevents trade execution and the whole process has to be repeated until correct.