March 11, 2020
SEC Commissioners,
The temptation to over regulate must be on the forefront of everyone who attains a position of proposing, evaluating and enacting regulation. The SEC needs to trust that brokerage firms that operate in a extremely regulated world have procedures and processes to evaluate their clients abilities and resources to partake in the purchase, sale and hedging of Levered and Inverse products. There is no precedent or need for the SEC to be the ultimate decision making body in this arena. The disclosure are complete (which you have already determined) and are the responsibility in investors to read and understand.
As a resident of New York State I am fully aware of revenue raising legislation as well as a host of Nanny State legislation and this falls in the latter category.
Please reconsider this proposed legislation.
-Jack