I've been using leveraged ETFs as well as ETNs for years. Why should I suddenly be subject to restrictions on products that I understand the risks for. Investing in these products isn't actually inherently riskier than simply investing in an individual stock, even a popular and widely-owned one (and indeed often is LESS risky, depending on the specifics of the stock).
Should investors be asked to pass a test about a stock's balance sheet and debt levels before they invest? It sounds pretty ridiculous. And it's ridiculous to apply this logic to ETFs as well. An individual doesn't have to pass a Series 7 Exam to make stock choices, and that sort of logic shouldn't be applies to ETFs/ETNs, either.
Jeff Easton Comment On Regulatory Notice 22-08
I've been using leveraged ETFs as well as ETNs for years. Why should I suddenly be subject to restrictions on products that I understand the risks for. Investing in these products isn't actually inherently riskier than simply investing in an individual stock, even a popular and widely-owned one (and indeed often is LESS risky, depending on the specifics of the stock).
Should investors be asked to pass a test about a stock's balance sheet and debt levels before they invest? It sounds pretty ridiculous. And it's ridiculous to apply this logic to ETFs as well. An individual doesn't have to pass a Series 7 Exam to make stock choices, and that sort of logic shouldn't be applies to ETFs/ETNs, either.