Dear ProShares Shareholder,
I want to thank you for expressing your views to the SEC regarding its proposed regulation of leveraged and inverse (geared) funds that, if adopted, could have made it more difficult for investors like you to invest in these funds or even prevented you from doing so. I am happy to report that the SEC abandoned these regulations earlier this month, meaning that there will be, at this time, no new restrictions imposed by the SEC on investors’ access to these funds.
We believe that your voice, along with the voices of more than 6,000 diverse parties who expressed support for geared funds, made a difference in defeating the proposal. Over 97% of those who submitted comments to the SEC on the proposed regulations opposed them.
While the SEC decided not to go forward with the proposed restrictions on access to geared funds, at this time, regulators could seek again to restrict geared funds in the future, which could adversely affect investors like you. We will keep you updated on any future attempts to enact such restrictions and may ask you to take renewed action at that time, if appropriate.
Thank you again for your support of geared funds.
Co-Founder and CEO
ProShares | ProFunds