This is a sample investment adviser form which is a sample client acknowledgement of the highly speculative nature of leveraged or inverse ETFs in which the client confirms that he or she understands such risks and is seeking a high risk investment.
In addition to this client acknowledgement, an investment adviser firm which recommends leveraged or inverse ETFs should also develop written policies and procedures. Please see our sample WSP/CoE Section Update at https://www.ria-compliance-consultants.com/product/wsp-coe-section-update-inversed-leveraged-etfs/ for an example of compliance policies and procedures for an investment adviser recommending such ETFs. The recommendation or selection of such products is highly risky and should only be done afer careful review of the SEC investor bulletins and enforcement actions. See https://www.ria-compliance-consultants.com/2017/02/sec-enforcement-action-etfs-and-failure-to-follow-policies-and-procedures/ .
Included with Platinum Packages. Last updated in May 2023.
SEC’s Investor Advocate Identifies Leveraged and Inverse ETFs as Risk to Retail Investors (January 26, 2021); and
SEC Enforcement Action – ETFs and Failure to Follow Policies and Procedures (February 15, 2017).
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