Mar. 17, 2020
Comment on SEC Proposed Rule #S7-24-15: The purpose of having a diverse set of investing tools is to allow people the choice of how they would like to invest their own money. It is not appropriate for a third party regulator, who does not know the client, to make that decision for them. To the extent these products are used in advisory accounts, banks already have in place Know Your Client rules to regulate suitability. To the extent these products are used in self-directed brokerage account, individuals are making their own decisions on how to invest their capital - like buying a house or a car. It is their right to do this. They have many choices and should be able to pick what they think is most suitable without a regulator, who does not know them, making that decision for them. Regards, Stephen Reinhard