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?
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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?