March 12, 2020
To whom it may concern,
I do not agree with this proposal. This is simply another method to widen the wealth gap. There are already very large requirements for options trading. This is simply another anchor to limit the ability to trade the market that is present. Not all accounts allow options trading and ETF's provide a means to compensate for this inability. For an example this is one of a very few methods that I can protect an account of mine, due to leveraged ETF's are an actively traded investment option during market hours. I have been trading for years utilizing leveraged ETF's and I believe that the investor is responsible for conducting research, reading the prospectus, and understanding how this instrument will assist them. It is no different than choosing the right tool to work on a car for example. I ask that the SEC stop limiting investor methods and choices, instead regulate the corporations requiring clearer financial reports and modifications to GAAP requirements to support true transparency. This proposal would set an unnecessary precedent, potentially allow for further restriction of investment choice in the future.
Thank you,
Steve Beiter