February 27, 2020
Comments on Rule #S7-24-15:
Addressed to the SEC Commision:
Ladies and Gentlemen
I implore you to abstain from implementing more regulations and restrictions on the purchase, sale, or ownership of inverse funds and leveraged funds.
Please understand that I am already subjected to onerous and restrictive regulations on securities trading. In particular with respect to my 401(k) balance (the largest of my personal assets), I am currently blocked from investing in short positions or margin positions. This restriction makes it IMPOSSIBLE for me to make money in a down market. I need access to either margin accounts or inverse funds to be able to properly manage my 401(k) portfolio. Please do not restrict my access to leveraged/inverse funds.
If this proposed action is in response to the inverse VIX fund debacle of a few months ago, then contact me. We can discuss this issue too. In short, don't restrict my trading options because other uneducated investors did not understand the complexities of the instruments they were trading. Don't restrict my options based on the stupidity of other investors.
John Richerson