Dear Sirs, I am writing today re: Proposed Rule #S7-24-15. This rule should not be adopted for the following reasons: I should be able to choose the public investments that are right for me and my family, not you. Public investments should be available to all of the public, not just the privileged few that you deem worthy of making that investment. I shouldn't have to go through any special process like passing a test before I can invest in public securities, like leveraged and inverse funds. If these types of funds are that "dangerous" to the market then they should not be allowed for anyone. Period. I am fully capable of understanding leveraged and inverse funds and their risks. I have used them and am currently using several of them to protect my hard earned savings via hedging and as a source of return when market conditions look favorable for such products. The bottom line is that many of these products are part of my overall portfolio strategy and I do not need these measures imposed on me. Again, if your belief is these types of products shouldn't exist in the market at all and nobody should have access to them that's a different argument (which I also disagree with) but to say that the small investor / unaccredited investor should have access to them is insulting and wrong.
Paul Ito Comment On Regulatory Notice 22-08
Dear Sirs, I am writing today re: Proposed Rule #S7-24-15. This rule should not be adopted for the following reasons: I should be able to choose the public investments that are right for me and my family, not you. Public investments should be available to all of the public, not just the privileged few that you deem worthy of making that investment. I shouldn't have to go through any special process like passing a test before I can invest in public securities, like leveraged and inverse funds. If these types of funds are that "dangerous" to the market then they should not be allowed for anyone. Period. I am fully capable of understanding leveraged and inverse funds and their risks. I have used them and am currently using several of them to protect my hard earned savings via hedging and as a source of return when market conditions look favorable for such products. The bottom line is that many of these products are part of my overall portfolio strategy and I do not need these measures imposed on me. Again, if your belief is these types of products shouldn't exist in the market at all and nobody should have access to them that's a different argument (which I also disagree with) but to say that the small investor / unaccredited investor should have access to them is insulting and wrong.