February 21, 2020
PLEASE dont adopt this ridiculous rule. Individuals should be completely free to purchase securities as they wish without government interference.
Were all adults and accountable for our own actions. Does the government really need me to explain that I understand the risk of trading these instruments?
Whats next? Will you be questioning futures and options traders, too? Those instruments come with high leverage and a high degree of risk, as well.
I have traded leveraged ETFs for awhile and I have made very good money at it. Money which I spend in this economy and pay taxes on which should count for something. Currently, trading leveraged ETFs is my primary living as a trader.
I dont wish to be questioned on my competency or understanding of these instruments...it is so condescending and quite frankly, absurd.
Its my living and I really dont appreciate that I may have to be subjected to questions to continue earning my living
Maybe traders should ask the SEC staff questions to see if they are competent enough to participate in their jobs?
How about simply allowing people to continue to trade as they see fit?