Limiting investors ability to invest in leveraged ETFs and funds and having to prove high-net worth and presuming that equates to understanding risk and investment knowledge is unnecessary. Investors are widespread and have to be responsible for their investment decisions. Taking away the opportunity from people who do understand the risks is thievery. It's like telling a person who's never taken a diving course that they're not going to be able to wear a scuba suit. All you have to do it get the instruction first. Investing is similar people can seek out their own investment advice wherever they wish and make decisions accordingly.
Zachary Covell Comment On Regulatory Notice 22-08
Limiting investors ability to invest in leveraged ETFs and funds and having to prove high-net worth and presuming that equates to understanding risk and investment knowledge is unnecessary. Investors are widespread and have to be responsible for their investment decisions. Taking away the opportunity from people who do understand the risks is thievery. It's like telling a person who's never taken a diving course that they're not going to be able to wear a scuba suit. All you have to do it get the instruction first. Investing is similar people can seek out their own investment advice wherever they wish and make decisions accordingly.