I think it would be a mistake to limit complex products for investment advisors and registered reps beyond what is currently in place at most broker dealers. They are useful hedging tools and a quick way to add beta, in certain circumstances. I don't use them often, but on occasion they are a good and helpful tool.
The general public should sign disclosure forms or take training on these types of investment vehicles. The public should be required to have just as much training in the use of these instruments as professionals.
Robert Paul Comment On Regulatory Notice 22-08
I think it would be a mistake to limit complex products for investment advisors and registered reps beyond what is currently in place at most broker dealers. They are useful hedging tools and a quick way to add beta, in certain circumstances. I don't use them often, but on occasion they are a good and helpful tool.
The general public should sign disclosure forms or take training on these types of investment vehicles. The public should be required to have just as much training in the use of these instruments as professionals.