Mar. 23, 2020
Comment on SEC Proposed Rule #S7-24-15: Reference: File Number S7-24-15 It would be anti-competitive and contrary to capital formation to bar or restrict retail investors’ access to leveraged/inverse ETF products unless similar prohibitions or restrictions were instituted to high net worth individuals. The leveraged/inverse ETF products that are currently available to retail investors are essentially the same tools that hedge funds use to protect and grow the investments of their high net worth clients. To limit access to these tools to just high net worth individuals would be anti-competitive and un-American. To do so would simply prove the saying, “The Rich get richer.” Retail investors should have the same access to tools that allow them to properly hedge their investments to grow their capital in both up and down markets. As such, the proposed rule should be permanently withdrawn.