Stephen Wershing Comment On Regulatory Notice 22-08
Stephen Wershing
N/A
As an investor, I am opposed to the additional regulations proposed in Regulatory Notice 22-08 restricting access to certain complex products.
There are sufficient requirements to provide information on the behavior of these investments and more than enough regulation on broker dealers to supervise the purchase and trading of these instruments.
We cannot regulate our way to more intelligent investors. Investors have the right to make their own decisions. Some underinformed investors may use certain products imprudently because they do not sufficiently educate themselves or seek the guidance of a financial professional. We cannot regulate everyone in the vain hopes of protecting this small minority.
I should be free to invest in as wide a range of products as possible. Provided the regulated companies are complying with the rules of fair practice and not engaging in deceptive sales practices, the choice to invest in them should mine alone.
It is not government's role to place requirements and restrictions on me when determining how to invest my own money.
Stephen Wershing Comment On Regulatory Notice 22-08
As an investor, I am opposed to the additional regulations proposed in Regulatory Notice 22-08 restricting access to certain complex products.
There are sufficient requirements to provide information on the behavior of these investments and more than enough regulation on broker dealers to supervise the purchase and trading of these instruments.
We cannot regulate our way to more intelligent investors. Investors have the right to make their own decisions. Some underinformed investors may use certain products imprudently because they do not sufficiently educate themselves or seek the guidance of a financial professional. We cannot regulate everyone in the vain hopes of protecting this small minority.
I should be free to invest in as wide a range of products as possible. Provided the regulated companies are complying with the rules of fair practice and not engaging in deceptive sales practices, the choice to invest in them should mine alone.
It is not government's role to place requirements and restrictions on me when determining how to invest my own money.