I strongly object to the proposed FINRA regulatory notice 22-08.
The proposed measure is quite simply just another example of arrogant governmental agency overreach hatched under the disingenuous guise of protecting the consumer/investor.
Investor rights and abilities to buy/sell whichever public securities they may choose, whenever they choose, must be preserved without interference or manipulative regulation of any kind.
FINRA proposed regulatory measures of:
-passing a regulator proposed test
-demonstrating a high net worth
-obtaining special approval from a broker
-attesting to reading certain specified materials
-waiting through a cooling off period
are all patently discriminatory and authoritarian, and clearly designed to further rig the financial markets to the disadvantage of the everyday investor.
Our present long standing disclosure/prospectus-based system provides each and every potential investor with all the information they need to make investment related decisions. The proposed RN 22-08 steals that vital financial autonomy from every investor and inappropriately empowers nameless regulatorswithout any fiduciary responsibility to the investorwith the right to determine which public securities everyday investors can and cannot invest in.
The FINRA officials responsible for this harebrained, authoritarian regulatory threat to investor financial freedom should be promptly placed on unpaid leave pending outside independent review.
Robert Emerick Comment On Regulatory Notice 22-08
FINRA:
I strongly object to the proposed FINRA regulatory notice 22-08.
The proposed measure is quite simply just another example of arrogant governmental agency overreach hatched under the disingenuous guise of protecting the consumer/investor.
Investor rights and abilities to buy/sell whichever public securities they may choose, whenever they choose, must be preserved without interference or manipulative regulation of any kind.
FINRA proposed regulatory measures of:
-passing a regulator proposed test
-demonstrating a high net worth
-obtaining special approval from a broker
-attesting to reading certain specified materials
-waiting through a cooling off period
are all patently discriminatory and authoritarian, and clearly designed to further rig the financial markets to the disadvantage of the everyday investor.
Our present long standing disclosure/prospectus-based system provides each and every potential investor with all the information they need to make investment related decisions. The proposed RN 22-08 steals that vital financial autonomy from every investor and inappropriately empowers nameless regulatorswithout any fiduciary responsibility to the investorwith the right to determine which public securities everyday investors can and cannot invest in.
The FINRA officials responsible for this harebrained, authoritarian regulatory threat to investor financial freedom should be promptly placed on unpaid leave pending outside independent review.