Mar. 17, 2020
Comment on SEC Proposed Rule #S7-24-15: As an independent investor, L&I funds have provided a valuable tool for me to manage my positions. I fully understand their inherent dangers and benefits, such as the high betas and risk of holding them a long time (although I have in the past). They should not be shielded in any way from the general public. If you do, the 'Wall Street Types" will once again hold all the power in the financial system which will lead to more inequity in our country. As an independent investor, I monitor my L&I Fund positions on a regular basis sometimes as often as several times a day. Since most L&I funds have an underlying basis, I can monitor the direction and significance of the moves with just a quick glance at the market and underlying securities. I think the brokerage firm should not be able to decide if am "capable" to assess risk or my professional experience. Once again, f the government limits the rights of individuals, only the well connected will get preferential treatment. My brokerage firm and fund provider me warnings and information including the prospectus of the funds I have traded. In no way do I not understand the risk of using L&I funds. If you do require the brokerage firms to evaluate me to see if I am capable of evaluating the risks of using L&I funds, it would be a no brainer to grandfather me in since I have traded them for years!