Foley Partner and chair of the Securities, Commodities & Exchange Regulation Practice George Simon was quoted in an article titled “Unorthodox products get a health warning” in the June 28, 2009 issue of Financial Times. Simon discusses a notice issued by the Financial Industry Regulatory Authority (Finra) stating that inverse and leveraged ETFs typically are not suitable for retail investors who plan to hold them for more than one trading session. Simon remarked that the notice from Finra was stark in its language and may spell the end of the sector.
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