Before another New Jersey health care worker gets thrown for a loop and tries to cover their losses from yet another structured product by suing everyone involved, Finra sent out a little reminder to brokers and investment advisers that leveraged ETFs are not for everyone. They cautioned that these “highly complex financial instruments” are typically unsuitable for retail investors. For those who might selectively confuse the safety of products labeled ultra short/ultra long for the cash stuffed under their mattress, the Finra communication is bad news. Now they might have to freely admit that they were simply greedy and didn’t know what they were doing.
Finra Urges Caution on Leveraged Funds [WSJ]
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Ok…thanks FINRA.
Now that you have released a new set of advertisements and issued an essentially meaningless statement to member firms, you can go back to doing what you do best – ignoring unlawful activities in the broker/dealer world.
FINRA (and the whole retail brokerage industry) is massively long client indifference/ignorance, plain and simple.
@1, and fingerprinting all of us
You are all ignorant fools. SKF almost broke the entire US financial system – it’s evil.
Jim Cramer
@2 Hey hey now, we took care of J.T. Marlin Didn’t we?
FINRA
@5
Yeah, but you couldn’t take care of Ben Affleck, could you?
Much more sinister than being leveraged – they only track the daily move and dont offer protection than they are in fact bought for.