As a retail investor, I find it insulting and disrespectful that FINRA could think that leveraged and inverse ETFs and other products are too complex for the retail investor to use and that you need to protect us from these products. I have used various leveraged and inverse products for many years and had made significant amounts of money trading with these important tools. If you remove these tools, people won't stop taking risks that you probably deem unsound or foolhardy. Rather they will simply use margin, options and short selling and other means to gain leverage and accomplish the same strategies but at a much higher cost and requiring more complexity to execute similar trading strategies. This does not benefit retail traders nor does it protect them. Please do not push forward with this misguided attempt to protect traders from themselves by banning and adding burdensome regulation to leveraged inverse products.
Kevin Momber Comment On Regulatory Notice 22-08
As a retail investor, I find it insulting and disrespectful that FINRA could think that leveraged and inverse ETFs and other products are too complex for the retail investor to use and that you need to protect us from these products. I have used various leveraged and inverse products for many years and had made significant amounts of money trading with these important tools. If you remove these tools, people won't stop taking risks that you probably deem unsound or foolhardy. Rather they will simply use margin, options and short selling and other means to gain leverage and accomplish the same strategies but at a much higher cost and requiring more complexity to execute similar trading strategies. This does not benefit retail traders nor does it protect them. Please do not push forward with this misguided attempt to protect traders from themselves by banning and adding burdensome regulation to leveraged inverse products.