It makes NO sense to require testing and other regulatory restrictions on the use of inverse and related funds. I utilize them in hedging activities when risk within the market becomes excessive without the need to sell securities at short-term taxable gain. I have a brain and am perfectly capable of understanding and determining when to use such securities. I do NOT need PERMISSION from ANY authority (including FINRA or any broker) to invest my own funds. The thought that we should pass some ridiculous test, require a minimum level of net worth, attest to actually reading descriptive material (like a fifth grader doing a book report), and undergo a "cooling off " period is not only "beyond the pale" but borders on a tyrannical use of power that I am unwilling to cede to ANY authority, recognized or otherwise. Your requirements as described in your notice are absolutely unacceptable...under ANY circumstances!
Ronald Kent Comment On Regulatory Notice 22-08
It makes NO sense to require testing and other regulatory restrictions on the use of inverse and related funds. I utilize them in hedging activities when risk within the market becomes excessive without the need to sell securities at short-term taxable gain. I have a brain and am perfectly capable of understanding and determining when to use such securities. I do NOT need PERMISSION from ANY authority (including FINRA or any broker) to invest my own funds. The thought that we should pass some ridiculous test, require a minimum level of net worth, attest to actually reading descriptive material (like a fifth grader doing a book report), and undergo a "cooling off " period is not only "beyond the pale" but borders on a tyrannical use of power that I am unwilling to cede to ANY authority, recognized or otherwise. Your requirements as described in your notice are absolutely unacceptable...under ANY circumstances!