April 7, 2020
I am writing in regards to the SEC proposal to provide extensive personal financial and other information to my broker to allow me to buy leveraged or inverse funds.
I am a small investor who has used leveraged and inverse funds for years to protect my portfolio. The recent market action clearly shows the need for people like me to have a vehicle to protect against a massive down turn. I do not short stocks so what choice do I have but to buy an inverse fund for protection?
I understand the characteristics of leveraged and inverse funds and don't need a third party evaluating my capability. I will be extremely financially damaged if I am prevented from buying leverage and inverse funds. Yes, Rule #S7-24-15 is an unnecessary intrusion into my ability to control the direction of my investments. Please do not implement Rule #S7-24-15