You want to prevent me from trading products that are too "complex" for me unless I pass a regulator-imposed test? This seems a lot like when blacks were prevented from voting unless they passed a regulator-imposed "literacy test". My response is simple: this is despicable. You should be ashamed of yourselves. Really.
"Complex" products are important to my investment strategy. Much of my net worth is in a leveraged fund: QLD. I am in QLD for the long haul. I've ready the prospectus and I understand the risks. This fund is consistent with my long-term investment objectives.
Current laws are already stacked against the retail investor. Why would you want to make it even more difficult for the small guy?
Ryan Elandt Comment On Regulatory Notice 22-08
You want to prevent me from trading products that are too "complex" for me unless I pass a regulator-imposed test? This seems a lot like when blacks were prevented from voting unless they passed a regulator-imposed "literacy test". My response is simple: this is despicable. You should be ashamed of yourselves. Really.
"Complex" products are important to my investment strategy. Much of my net worth is in a leveraged fund: QLD. I am in QLD for the long haul. I've ready the prospectus and I understand the risks. This fund is consistent with my long-term investment objectives.
Current laws are already stacked against the retail investor. Why would you want to make it even more difficult for the small guy?