Mar. 17, 2020
Comment on SEC Proposed Rule #S7-24-15: Dear SEC Staff, It has been brought to my attention the SEC is considering requiring investors of L &I Funds to provide extensive financial & personal information in order for the SEC to decide if I am capable of evaluating the risks related to these instruments. For the 9+/- years I have been investing with Direxion, I have been advised of the characteristics and risks of rollover charges that can erode the positions, especially accrual of the same over time. There are many online blogs available to everybody that offer the pros and cons of L &I Funds. I have been deploying my hard-earned personal savings that to-date are shown as a loss, but my freedom to choose outcomes in my own life is a liberty American’s have been promised in the constitution and Bill of Rights. I choose the freedom to spend my money the way I want. This scheme, if attempted, appears to be another Wall Street trick aimed at protecting the 1% and beating down the common man. The repeal of Glass-Steagall and the bail-in program is disgusting enough but it appears the sickness at the SEC is another type of virus. Sincerely, Michael Bauer