April 17, 2020
I object to your proposed regulations restricting my ability to buy leveraged and inverse funds, such as those offered by ProFunds, where I'm currently a customer. I have been an active investor and trader for 48 years in funds, stocks, and options. I think perhaps I have the capacity to understand something as simple as an inverse fund, and I'm not alone. The SEC goes beyond its legitimate role when it presumes ignorance or incompetence among investors. Even if that's true for some, it's not your responsibility to prevent it. As for requiring that a broker or advisor determine if I'm allowed to choose leveraged and inverse funds, that's an insult to me. I've not yet encountered a broker with anywhere near my level of experience. Most have not even experienced one full market cycle, let alone traded their own accounts as a full time job.
On this matter, the SEC should stay out of the way.