It is absurd to prevent Americans from investing in any sort of securities that they want to. Risk assessment should be done by the investor, not by government regulators. For example, anyone could invest in a NASDAQ fund. But a leveraged fund gives me 3x the return (and risk) for 1x the investment. I would have to invest 3x as much to get the same return. That just ties up more of my money and prevents me from getting those higher returns. We already have too many restrictions on Americans' ability invest (foreign securities, for example, should be readily available); we don't need this as well.
Daniel Press Comment On Regulatory Notice 22-08
It is absurd to prevent Americans from investing in any sort of securities that they want to. Risk assessment should be done by the investor, not by government regulators. For example, anyone could invest in a NASDAQ fund. But a leveraged fund gives me 3x the return (and risk) for 1x the investment. I would have to invest 3x as much to get the same return. That just ties up more of my money and prevents me from getting those higher returns. We already have too many restrictions on Americans' ability invest (foreign securities, for example, should be readily available); we don't need this as well.