February 19, 2020
To whom it may concern at the Securities and Exchange Commission,
I am currently a holder of a leveraged and inverse funds, ProShares stocks. It is these types of ETFs, regulations under Release No. 34-87607, that you are considering for revision. This would require that the leveraged and inverse funds ETF not require a special exemption, but fall under the proposed amendments of rule 6c-11.
I have found the ProShares stock to be a valuable investment tool to increase my portfolio for future investment into my family and retirement. I understand that it carries with it a higher risk, but also a higher reward, which is a risk that I am willing to take at this stage of my life. It would be a burden on private investors, as myself, to have an overseer with papers full of questions with a set of financial criteria that will determine my eligibility. If it is not required for me to go through all this red tape for to buy a more riskier penny stock, why should it be necessary for ETFs, a bundle of stocks, that are far less likely to collapse overnight?
Please preserve the open and free market principles, free from unnecessary burdens and trust investors to make their own decisions good or bad. I appreciate the important responsibilities that your job has to protect the America public and investors trust around the world. Please give a careful decision.
James Wesley (Wes) Smith