Complex products (ex: leveraged ETFs) are already limited in several wise ways. Limiting the leverage available to 3x is a good policy. However, completely gatekeeping who can access these products would simply increase inequality and unnecessarily increase costs for consumers. Gatekeeping access to all these complex opportunities would be akin to providing the unearned rent seeking through regulation that tax preparers enjoy now. To reduce inequality and increase prosperity for consumers, we need less unnecessary certification requirements, not less.

Do not change anything. I like the way it is now. Unless it is broken do not change it because if you change it, you will make it worse. I know I won't like the change.

Good Morning, I am writing this comment in response to your classification of LETF's as a complex product. I agree with this assertion, and additional warnings and barriers to investors using these products without prior understanding MIGHT be beneficial to "protecting" investors from themselves. However, I want to specifically advise that restrictions that prevent investors from opting into buying and holding these complex products, like the proposed 1 day buy and sell rule, are a bad idea.

I write to oppose any rule or regulation that limits leveraged ETF positions to one day or access to leveraged ETFs. I am a retail investor that has done a lot of research on leveraged ETFs, am comfortable with the risk, and have invested a portion of my portfolio that I am comfortable with in leveraged products and plan to hold long term. If positions were limited to a single day, I would be forced to liquidate these positions, pay capital gains, and would be limited in my ability to achieve higher long term returns in an efficient manner. I oppose such rules. Thank you.

Information about a product you invest in is incredibly important, and I think ensuring brokerages are properly informing retail investors about the risks of the product they are investing in would benefit everyone involved. However, I find the proposed regulations of forcing those holding leveraged products to sell at the end of every day and limiting capping profits/losses of a leveraged product are massive missteps.

Hello, I disagree with the rules this document is proposing. These products are cleared labeled as leverage products and the retail investor is aware of the risks and strategies involved. These are outlined in the prospectus and online which are sent to every trader. This would be a barrier to entry and unnecessary burden for retail investors who already are required to acknowledge the risks when trading through a broker. Please reconsider this document and keep the playing field even for retail investors as well as brokers. Thank you very much.