As I understand the new regs that went in last year, you basically multiply the nominal value of the ETF by the leverage factor in determining margin. So if, for example, you had $100k in DTBP, you could buy $100k of stock or unleveraged ETFs, but only $33k of a triple leveraged ETF like FAS. Is that correct, and, if so, does your broker enforce it? I ask because I know someone who claims to be violating it with impunity.