Please kindly understand you Do Not know what's good for me, re my investment strategies and/or my utilizing leveraged derivatives for essential short term trading income.
I do not need nanny-state "testing" to demonstrate my already evident knowledge. I have already passed a far more difficult multi-decade "exam" -- i.e., my historic success in this
I oppose regulations that limit small investors ability to invest in leveraged and inverse funds. This is a basic principle of fairness. Should these vehicles only be available to high net worth individuals? There is enough special privilege already in the system that rigs the system against individual investors. This rule amounts to further theft.
FINRA is sharing the following common practices we observed while conducting Reg BI preparedness reviews and other ongoing conversations with firms. We hope this helps firms assess their Reg BI initiatives and continue their work preparing for the compliance date.
FINRA assesses and collects regulatory fees that fund FINRA’s regulatory activities, including the Gross Income Assessment (GIA), Personnel Assessment and Branch Assessment Fees, as well as user fees for the services FINRA provides.
(a) Calendar Day
In the Rule 9000 Series, "day" means calendar day.
(b) Formula
In computing any period of time, the day of the act, event, or default from which the period of time designated in the Code begins to run shall not be included. The last day of the period so computed shall be included, unless it is a Saturday, Sunday, or Federal holiday, in which event the
FINRA publishes this quarterly review to provide firms with a summary sampling of recent disciplinary actions involving misconduct by registered representatives. The sample includes settled matters and decisions in litigated cases (National Adjudicatory Council decisions and decisions of the SEC in FINRA cases). These summaries call attention to, and remind registered representatives and firms of, specific conduct that violates FINRA rules and may result in disciplinary action.
I shouldnt have to take a test to use inverse funds, its not right when shorting a stock, using puts and calls are essentially equal in results.
Inverse and leveraged funds can in an important part of an investors strategy. Investors should be able to choose their own investments without passing special tests.
I do not wont to lose my rights to trade stocks etc. I do not need to take a test. This is a free country why should I be restricted to trade ?
Any idiot can get married or conceive a child without a test so this regulation represents nothing more than bureaucratic over reach.
