March 20, 2020
To Whom It May Concern:
I strongly object to the Proposed Rule #S7-24-15 because it is bad for investors, unnecessary, and sets a dangerous precedent. What's next? A ban on short sales?
All investing involves risk, and such a ban will only limit the options investors have to try and hedge against such risk, or recapture losses in long positions.
I understand the risks of these leveraged and inverse instruments, which provide me a chance to make money in a down market, like right now.
I think it would be very unfortunate to limit or preclude investor choice, and counter to price discovery and functioning of public free markets.
As a small retail investor, I don't benefit from taxpayer bailouts to too-big-too-fail brokers and banks, so unless the SEC proposes to make good my losses, I ask that they not interfere in my making investment choices to buy inverse or leveraged funds, ETFs, or ETNs. Please do not go forward with this ill advised Rule Thank you for your attention