FINRA overreach to prevent investment in leveraged funds
The Financial Industry Regulatory Authority (FINRA) recently requested comments on measures that could prevent or restrict many individual investors from buying investments including the leveraged ETFs we use in the Leveraged Momentum investing system. If you believe in freedom to invest as you see fit then will you please consider submitting a brief comment to FINRA to let them know that leveraged ETFs should be available to everyone rather than just the privileged and wealthy? For more information see https://www.leteveryoneinvest.com/
Whew, I’d have to look into it. I’m down for our rights, but I needed people in the know to protect me from some of the more speculative assets when I began investing. I was in on the 3x leveraged funds forever, happened to sell out before Covid, thank Hod, cause they all went close to zero and got pulled immediately. I think we might just need some type of protection for the newbies is all. There maybe should be a very low hurdle maybe one should have to pass, demonstrating common market sense.
@wall_street_deebo I agree that low hurdles are needed but I believe they are already in place at many brokerage service providers. I would not be opposed if all providers were required to establish the hurdles and notifications Fidelity and others put in place ten years ago including an initial "Designated Investment Agreement" clarifying the risk involved that must be signed and then a risk warning each time a leveraged ETF trade is about to be placed. https://www.reuters.com/article/discountbrokers-etfs/etf-controversy-puts-online-brokers-in-odd-spot-idUSL1E8G1KDB20120502