As an educated & well-researched "retail" investor, I find this legislation incredibly insulting. The condescending essence of the idea that I am not capable of understanding the risks of leveraged and inverse ETFs is disgusting. Such ETFs have allowed me to outperform the major indexes through the bear market we are currently going through, and without access to them retail investors would have had no other choice than to go to cash which would further exacerbate the stress on the financial markets in an already stressful period.

Comments: caveat emptor....

Banning retail investors from trading certain instruments is like like throwing an abuse victim in jail to protect them from their abuser. The only reason that this instrument performed so poorly over the last 2 years was the excess liquidity in the markets, and the pump and dump scams often indoctrinated into CNBC viewers. Over the year or so, we’ve witnessed the collapse of Melvin Capital, Archaegos, the fund in China that was short on Nickel, and Bill Ackmans foolish investment in Netflix. All of these instances saw billions of dollars of wealth destroyed.

As an individual investor who has invested in complex instruments for years, I am opposed to these regulatory controls. They are over-reach by the government on the assumption that people are stupid and should be ruled rather than have the freedoms. The barrier to these instruments will not only create obstacle for investment, it will dramatically increase the cost to access these instruments as middle people are added.

Comments:I am a long term investor that prefers to use leveraged products to lessen my exposure to individual stocks. The risks have been made very apparent by my broker.

Not all retail investors lose money.

The current regulations on "complex securities" is adequate. FINRA and SEC doesn't need any further new regulations in complex securities. These complex securities have the same risk and volatility as buying a individual stock. Geared ETF and Inverse are for advance investor and trader. The current agreement with brokers is adequate. I studied geared and crypto trust for hundreds of hours. These funds are monitored daily like individual stocks and thematic ETF. If the regulators want to really address market risk.

I as a Investor understand the risks involved in L&I funds before investing on them. So no need for restrictions on these funds. As 90% of stock market scrips are risky anyway, I do not see any problems with these direxion funds. Please do not make any limitation on these. Thanks.

I am a retail investor and have been trading various of these “complex” products for well over a decade (leveraged/inverse ETF’s and options). I find the premise of this Regulatory notice to be highly suspect – that retail investors are not sophisticated enough to be able to trade these PUBLIC instruments and should have sufficiently high impediments put in place to discourage or bar their use ( i.e. Restrictions or limitations on retail customer access to complex products (e.g., limiting access to high-net worth or other categories of customers)).

Comments:Direxion 3X/2X Leveraged funds when used judiciously and produce outstanding returns. For example purchasing them when they are significantly -80%-90% down. It is a better alternative than the options market.