Mar. 17, 2020
Comment on SEC Proposed Rule #S7-24-15: I am dissappointed. The way this regulation is put forward will give considerable losses. Already the Direxion funds are plummmiting because of the unrest cause by the SEC proposals. I wonder who is giving me more risks the financial authorities or the funds of direxion? At the moment I loose nearly 20% of the funds I invested in. These funds JNUG and NUGT represent a leveraged index ETF fund regarding gold and silver miners stocks. The fuind follows roughly spoken the gold and silver price movements. They are relatively easy to follow considering the relation with the gold and silver world spot prices. Already for years I am investing in this stock. By proposing this regulation this fund will cause severe losses. Who will pay for these unnecesarry losses caused by authorities? And why all of a sudden this is necesarry to impose? As citizens we expect the governments institutes to protect us from wrong doing by the financial markets. I believe in regulation. But this overreaction causing even more damage to individual investors. A more phased long term approach should be in place in order to give people more time to re-invest and cover their losses. The proposal is now causing the risk it wishes to prevent.