Comments: I believe that it is an overstep by FINRA to limit access to leveraged and inverse ETFs. By limiting access, FINRA is unduly infringing on the rights of free market participants. Providing education on these products to investors is more than appropriate, but limiting access would be an overstep. I, and all of the people I know personally, have a deep understanding of the characteristics and risks involved with leveraged and inverse funds. The vast majority of investors know that they are intended for short-term, active trading and should be monitored carefully. Further, broker-dealers already employ guidelines as to access to and understanding of leveraged and inverse funds, so it is truly unnecessary for FINRA to step in. Please do not take this step toward overreach.
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Patrick Jones Comment On Regulatory Notice 22-08
Comments: I believe that it is an overstep by FINRA to limit access to leveraged and inverse ETFs. By limiting access, FINRA is unduly infringing on the rights of free market participants. Providing education on these products to investors is more than appropriate, but limiting access would be an overstep. I, and all of the people I know personally, have a deep understanding of the characteristics and risks involved with leveraged and inverse funds. The vast majority of investors know that they are intended for short-term, active trading and should be monitored carefully. Further, broker-dealers already employ guidelines as to access to and understanding of leveraged and inverse funds, so it is truly unnecessary for FINRA to step in. Please do not take this step toward overreach.