In regards to leveraged and inverse investments: Individuals, not regulators, should be able to choose the investments that are right for them and their family. Public investments should be available to all of the public, not just the wealthy. I and other investors shouldn't have to go through any special process like passing a test before we can invest in public securities, like leveraged and inverse funds. I'm capable of understanding leveraged and inverse funds and their risks. We do not need these measures imposed on us. Leveraged and inverse funds are important to my investment strategies. We don't need to limit investing for private individuals who want to consider all options available in order to best prepare for retirement. What we do need is for you to consider wrong doings that occur related to these types of investments. For example former ticker DTO was both a leveraged and inverse ETF. DTO was the ticker for DB Crude Oil Double Short ETN. DTO ceased trading on 5/18/2020. I owned 33 shares of DTO. 20 of those shares I purchased on 5/18/2020, the same day that DTO ceased trading. I purchased those 20 shares at $49.95/share. At close that day, it was trading at $56.21/share. When DTO ceased trading, I am curious why I did not receive $56.21/share for my 33 shares. Instead, I received $0.00. At the end of the day, all shares of DTO were rendered worthless. In total, I had invested $2764.08 for the 33 shares. I and other investors lost 100% of principle when the shares were declared worthless and removed from my account. Is there a way for me and others to legally recover our losses? It does not seem right that the shares closed at $56.21/share but investors were not given this value for their shares. Investors should have received the closing share price for their shares. Deutsche Bank announced on May 19, 2020, that holders of DTO would not receive any payments on their ETNs. This announcement can be seen at this link: Deutsche Bank AG Announces Automatic Acceleration of DB Crude Oil Double Short Exchange Traded Notes due June 1, 2038 (DTO) Please feel free to contact me regarding this issue at [REDACTED]
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Chris Kramer Comment On Regulatory Notice 22-08
In regards to leveraged and inverse investments: Individuals, not regulators, should be able to choose the investments that are right for them and their family. Public investments should be available to all of the public, not just the wealthy. I and other investors shouldn't have to go through any special process like passing a test before we can invest in public securities, like leveraged and inverse funds. I'm capable of understanding leveraged and inverse funds and their risks. We do not need these measures imposed on us. Leveraged and inverse funds are important to my investment strategies. We don't need to limit investing for private individuals who want to consider all options available in order to best prepare for retirement. What we do need is for you to consider wrong doings that occur related to these types of investments. For example former ticker DTO was both a leveraged and inverse ETF. DTO was the ticker for DB Crude Oil Double Short ETN. DTO ceased trading on 5/18/2020. I owned 33 shares of DTO. 20 of those shares I purchased on 5/18/2020, the same day that DTO ceased trading. I purchased those 20 shares at $49.95/share. At close that day, it was trading at $56.21/share. When DTO ceased trading, I am curious why I did not receive $56.21/share for my 33 shares. Instead, I received $0.00. At the end of the day, all shares of DTO were rendered worthless. In total, I had invested $2764.08 for the 33 shares. I and other investors lost 100% of principle when the shares were declared worthless and removed from my account. Is there a way for me and others to legally recover our losses? It does not seem right that the shares closed at $56.21/share but investors were not given this value for their shares. Investors should have received the closing share price for their shares. Deutsche Bank announced on May 19, 2020, that holders of DTO would not receive any payments on their ETNs. This announcement can be seen at this link: Deutsche Bank AG Announces Automatic Acceleration of DB Crude Oil Double Short Exchange Traded Notes due June 1, 2038 (DTO) Please feel free to contact me regarding this issue at [REDACTED]