March 21, 2020
I am Gustavo Rincon, 78 years old, Army Veteran, retired from Hewlett-Packard after 41 years of service as a Biomedical Engineer. I am constantly studying and investigating the market trends and I am very conservative in buying, leveraged funds such as the ones offered by Pro-Shares since my retirement.
Investing in leveraged funds is very important because it allows me to generate income to supplement the Social Security monthly payment to meet the needs and well-being of my family and myself.
I am capable of understanding leveraged funds and their performance characteristics as well as their technical and fundamental analysis and indicators. I have always exercised caution and am very careful in protecting my portfolio. I feel that at this time I do not need a third party evaluating my capability to do so and potentially preventing me from trading them.
I want to preserve the long-standing free public markets where investors have the freedom to trade public securities without additional government -imposed limitations on investor choice.
Therefore by this means I would like to suggest the following:
1. A grandfather clause for long-time investors, such as myself.
2. If "SEC" still want to issue these regulations, there should be a minimum 2-year grace period for the investors to learn and adjust to the changes
3. "SEC" should design and come up with new and improved pro-investors options to allow and protect the free markets, investors and the economy.
The current Administration had removed so many regulations to initiate the renaissance of a solid economy and allow American people to invest in public securities, improve their IRA's.. etc and it will be detrimental if "SEC" goes forward with the rule as proposed and establishes regulations that will hinder a transparent investors activity.
The USA economy is cruising at this time through extremely difficult times with the coronavirus pandemic and I trust that "SEC" will also take into consideration my suggestions and requests as well as from other investors to reach a favorable decision for all that will allow to continuing to provide levered funds and empower us to pursue our financial objectives to have and give our families a secured and comfortable living and future as well as solidify and make our economy much stronger.
Looking forward to receiving positive news on this matter.
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