I firmly object to the measures being proposed in this rule, particularly any steps to restrict what products I am able to procure through my brokers as a private (retail) investor. My concern especially applies to the purchase of leveraged ETFs. As a private investor or trader, the onus has been and always will be on me to acquire the necessary knowledge, experience, and trading acumen to be successful. My brokers (Bank of America/Merrill, Charles Schwab, and Fidelity) already do an excellent job of flagging investments with increased risk before I can hit the ‘buy’ button, and sometimes they are stingy and difficult about letting me purchase items of greater risk, such as over-the-counter (OTC) products, which I greatly appreciate because it has been effective in making me walk away from some purchases. There are always risks in the market, but let’s be honest, the risks the private investor is engaged in pale compared to the things the big houses and funds are doing with swap derivatives, etc. Please don’t hinder the little guy.
Roger Seward Comment On Regulatory Notice 22-08
I firmly object to the measures being proposed in this rule, particularly any steps to restrict what products I am able to procure through my brokers as a private (retail) investor. My concern especially applies to the purchase of leveraged ETFs. As a private investor or trader, the onus has been and always will be on me to acquire the necessary knowledge, experience, and trading acumen to be successful. My brokers (Bank of America/Merrill, Charles Schwab, and Fidelity) already do an excellent job of flagging investments with increased risk before I can hit the ‘buy’ button, and sometimes they are stingy and difficult about letting me purchase items of greater risk, such as over-the-counter (OTC) products, which I greatly appreciate because it has been effective in making me walk away from some purchases. There are always risks in the market, but let’s be honest, the risks the private investor is engaged in pale compared to the things the big houses and funds are doing with swap derivatives, etc. Please don’t hinder the little guy.