Please do NOT take moves to restrict my right to invest in leveraged or inverse funds. Whether I choose to make such investments should be MY decision, based on my own knowledge and judgment, not that of a regulatory body such as FINRA. I have used leveraged and inverse funds for many years, always as a very small part (less than 5%) of my investment portfolio. I use them sometimes as a hedge and sometimes to take advantage of market expectations and trends in ways that would not be possible otherwise. I realize that they can carry more risk than some other investments and must be used thoughtfully and carefully. I realize the important role that FINRA plays in regulating and moderating investment practices. With that in mind, I would suggest that you look at developing a regulatory framework for CRYPTOCURRENCIES, which I consider to be basically a legal PONZI SCHEME at this point, before attacking the rights of individual investors like me to invest in leveraged and inverse funds. Do NOT impose an unneeded "solution" on a nonexistent "problem." Requiring me to go through a special process or to pass some kind of "test" to invest in these funds would be an unnecessary and unwanted intrusion into my rights as a private citizen and as an investor in public securities.
Roger Ely Comment On Regulatory Notice 22-08
Please do NOT take moves to restrict my right to invest in leveraged or inverse funds. Whether I choose to make such investments should be MY decision, based on my own knowledge and judgment, not that of a regulatory body such as FINRA. I have used leveraged and inverse funds for many years, always as a very small part (less than 5%) of my investment portfolio. I use them sometimes as a hedge and sometimes to take advantage of market expectations and trends in ways that would not be possible otherwise. I realize that they can carry more risk than some other investments and must be used thoughtfully and carefully. I realize the important role that FINRA plays in regulating and moderating investment practices. With that in mind, I would suggest that you look at developing a regulatory framework for CRYPTOCURRENCIES, which I consider to be basically a legal PONZI SCHEME at this point, before attacking the rights of individual investors like me to invest in leveraged and inverse funds. Do NOT impose an unneeded "solution" on a nonexistent "problem." Requiring me to go through a special process or to pass some kind of "test" to invest in these funds would be an unnecessary and unwanted intrusion into my rights as a private citizen and as an investor in public securities.