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Sven Serneels Comment On Regulatory Notice 22-08

Sven Serneels
N/A

Dear SEC I am appalled by your recent proposal to restrict investment in leveraged and inverse ETFs to investors with a high net worth. Particularly inverse ETFs are one the few convenient ways that smaller investors presently have to hedge their risk against a bear market. By restricting these funds to the very wealthy, your rule's primary outcome will be that high net worth investors can make fat gains during bear markets, while the general public will at best be stagnant, if they sold in time that is. This is an absolutely appalling rule intended to enrich the wealthy few, and only them. It is also ludicrous to think that one would need training to be able to buy leveraged ETFs. What leveraged ETFs are can be explained in one sentence in a way that John Doe perfectly understands. And finally, please stop behaving like a 'nanny state' that claims there is a need to eliminate risk for the individual. Individuals should know their entire investment is at risk when investing in stocks or ETFs. They are being reminded countless times. And finally, note that holds just the same whether the ETFs are leveraged or not. So no need for additional rules. Kindly withdraw this proposal for restrictions immediately.