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Nicholas Bulleri Comment On Regulatory Notice 22-08

It does not make sense to limit leveraged investments as long as I can get a mortgage for 20% or less down payment in an asset which can lose 50% in the matter of months during a recession. How can that be safer than using leveraged and inverse investments? I'll tell you that it's not, in fact is significantly less safer. What harm is it to limit inverse investments when investors can short stocks? Focus on the bigger issues and leave investing to each individual's personal risk profile.

Kenzie Walker Comment On Regulatory Notice 22-08

The funds prospectus makes it clear what the fund is doing and what you are doing with your money if you decide to invest. Please, do not pursue further regulation of these funds. The funds are performing as designed. Any limitations on such a fund creates yet another barrier for the retail investor to gain access to similar leverage that many more fortunately endowed elites have access to. We are paying for access via the expense ratios and understand the risk.

Keep this free from further regulation.

Gilbert Nguyen Comment On Regulatory Notice 22-08

Dear Sirs,

I understand there is regulation under consideration by FINRA that will limit my access to electronic traded funds (ETFs) that invests in leveraged and inverse instruments. I oppose these restrictions. I think it is my right and my decision to invest in these instruments. Currently my brokerages warn me about investing in leveraged funds and I accept the risk that it entails. I believe the brokerages warnings are sufficient and do not warrant further obstacles to my investment decisions.

Alan Thielke Comment On Regulatory Notice 22-08

I have in the past year invested in inverse funds related to silver, natural gas, DJIA, NASDAQ, S&P_500, and VIX. These funds are very useful investment vehicles during periods of 'overbought' or 'overpriced' conditions. Without these, we investors would be forced to purchase Puts, which I feel are too risky due to guaranteed time-decay of value. Please retain our ability to buy inverse and leveraged funds.