After sending out letters to three sponsors of leveraged
ETFs, Massachusetts Secretary of State
William Galvin
has now turned his sights toward broker-dealers. Galvin
issued subpoenas Friday to
Ameriprise,
UBS,
LPL and
Edward Jones, soliciting information on the sales of the products, the
Wall Street Journal reported Saturday.
Prior to the issuance of the subpoena, Ameriprise,
Edward Jones and UBS had already halted sales
of leveraged ETFs. LPL, for its part, restricted
sales of leveraged ETFs that exceed double long or double short positions.
Galvin sent out letters to
Direxion,
ProShares and
Rydex on July 15. 
Edited by:
Armie Margaret Lee
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