Stephen Bottalico Comment On Regulatory Notice 22-08
Stephen Bottalico
N/A
This is complete insanity. Might as well be called the "Forced Pay Wall Street 3% Your Net Worth A Year Rule". Now advanced financial products will be cut off for everyone except the ultra wealthy? How could you possibly think this was a good idea? How about we drop the charade and just ban retail brokerage accounts. Really let wealth advisors run crazy when they know there is no one but them who can access leverage, options, or any other hedging tools. I'm sure this is going to happen one way or the other because regulators are owned by Wall Street and don't even pretend otherwise but I really can't imagine anything more completely blatant then this. Might as well be trying to pass literacy testing for voting. Because that is exactly how this rule change is going to be remembered.
Stephen Bottalico Comment On Regulatory Notice 22-08
This is complete insanity. Might as well be called the "Forced Pay Wall Street 3% Your Net Worth A Year Rule". Now advanced financial products will be cut off for everyone except the ultra wealthy? How could you possibly think this was a good idea? How about we drop the charade and just ban retail brokerage accounts. Really let wealth advisors run crazy when they know there is no one but them who can access leverage, options, or any other hedging tools. I'm sure this is going to happen one way or the other because regulators are owned by Wall Street and don't even pretend otherwise but I really can't imagine anything more completely blatant then this. Might as well be trying to pass literacy testing for voting. Because that is exactly how this rule change is going to be remembered.