Mar. 17, 2020
Comment on SEC Proposed Rule #S7-24-15: I firmly believe that this proposed rule is unwarranted and unsound, and unduly interferes with investor's choices and decisions that is the investor's right to make on his own behalf. The SEC proposes that a broker is somehow more effective in determining those choices; a broker that has no knowledge nor consequences of the wants and desires of that investor. It is an intrusion upon the freedom of the investor that is wholly unwarranted and, at its roots, vile. As an investor in Direxion ETF Leveraged Funds and others, I fully understand the risks and the rewards of such investing. These funds have ample information regarding the goals of these funds and the risks of these funds in clear and plain language that is accurate and appropriate. To suggest that this volume of information provided by these funds is inadequate for an investor to evaluate his own risks and rewards is unsupportable. As an investor in these funds, I act daily to monitor and review the performance of my investments and trades so to ensure my goals are being reached. As a matter of course, my brokerage ALREADY requires information from me PRIOR to the opening of my accounts to establish the trading level appropriate for those accounts. To further burden both the investor and the brokerage with more burdensome regulation and paperwork only interferes with investors and actually increases the perception that the stock market is rooted in corruption and vice; a goal I believe that is opposite to the purpose of the SEC. As I am already a current investor in such funds, I believe I have already demonstrated and proven that I am aware of the risks and rewards of investing in such funds. Further, I believe anyone who has undertaken to invest directly in the stock market with a broker, and has appropriately adhered to the policies and procedures of that brokerage, has already demonstrated that they are aware of all such risks and rewards that exist with such investing. I urge the SEC to withdraw this proposed rule completely.