October 14, 2020
A rule changing who is permitted to invest in leveraged ETFs would be detrimental to free markets. Inequal access to markets and tools that enable wealth generation help contribute to the inequality between the haves and have-nots. In the past few decades, significant strides have reduced the barriers to market that the middle class feels. Examples of these include the introduction of the ETF and the reduction in brokerage fees. Regressive policies such as causing a disparity in investment tools is not a policy that is needed.
Education of the public and the financial advisers that serve them is more desirable policy. Having a policy proposed where by an elite class, government body or oligarchy decide which classes of individuals are capable of understanding an investment tool appears ridiculously in this day and age. It is surprising that such a form of policy even gets to the point where it is considered for public opinion.
Please maintain policies that encourage free public markets with equal access for all.