While I am not against some basic check of investor knowledge of leveraged funds (similar to what is commonly required to use options), access to these funds should not be restricted for retail investors.
There are several reasonable use cases for leveraged funds, and retail investors should have ready access to them, just as professional money managers are able to employ leveraged systems.
John Magee Comment On Regulatory Notice 22-08
While I am not against some basic check of investor knowledge of leveraged funds (similar to what is commonly required to use options), access to these funds should not be restricted for retail investors.
There are several reasonable use cases for leveraged funds, and retail investors should have ready access to them, just as professional money managers are able to employ leveraged systems.