High net worth requirements are a horrible restriction to place on leveraged securities. A regulator imposed test , and attesting to reading certain materials is fine because anyone has the capabilities to do this, many individuals have been investing their entire lives and have a plethora of knowledge and would not be able to meet this high net worth requirement. Leverage and inverse securities do pose higher risk but so do options and short positions, why should leveraged and inverse have a high net worth requirement when these other risky investments do not? Retail investors are making up a larger portion of the markets than ever before, do not limit their abilities now, have required test to build their knowledge and require readings to further that knowledge, but do not place a requirement that will exclude the majority of the population form now investing in these securities.
For the Public
FINRA DATA
FINRA Data provides non-commercial use of data, specifically the ability to save data views and create and manage a Bond Watchlist.
For Industry Professionals
FINPRO
Registered representatives can fulfill Continuing Education requirements, view their industry CRD record and perform other compliance tasks.
For Member Firms
FINRA GATEWAY
Firm compliance professionals can access filings and requests, run reports and submit support tickets.
For Case Participants
DR PORTAL
Arbitration and mediation case participants and FINRA neutrals can view case information and submit documents through this Dispute Resolution Portal.
Need Help? | Check System Status
Log In to other FINRA systems
Steven Ede Comment On Regulatory Notice 22-08
High net worth requirements are a horrible restriction to place on leveraged securities. A regulator imposed test , and attesting to reading certain materials is fine because anyone has the capabilities to do this, many individuals have been investing their entire lives and have a plethora of knowledge and would not be able to meet this high net worth requirement. Leverage and inverse securities do pose higher risk but so do options and short positions, why should leveraged and inverse have a high net worth requirement when these other risky investments do not? Retail investors are making up a larger portion of the markets than ever before, do not limit their abilities now, have required test to build their knowledge and require readings to further that knowledge, but do not place a requirement that will exclude the majority of the population form now investing in these securities.