I have seen countless people, both in my personal life and on the internet, lose money investing in complex financial products they never understood. Many times no explanation at all was available, and there was almost never a test to see if they could understand and retain an explanation if one was provided. I am only in my mid-twenties-- these people are meaningfully worse off for the rest of their lives. Please rein in the sophisticated salesmen of these financial products.
Sean Reilly Comment On Regulatory Notice 22-08
I have seen countless people, both in my personal life and on the internet, lose money investing in complex financial products they never understood. Many times no explanation at all was available, and there was almost never a test to see if they could understand and retain an explanation if one was provided. I am only in my mid-twenties-- these people are meaningfully worse off for the rest of their lives. Please rein in the sophisticated salesmen of these financial products.