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Robert Fader Comment On Regulatory Notice 22-08

The responsibility for researching the investments that are right for any investor fall solely on that investor. While larger organisations and managed portfolio funds have extensive risk-management and analysis algorithms at their disposal, a self-directed individual investor has only the resources they choose to rely on. This is their choice to use as much or as little research as they deem appropriate, and it must be respected. It is not the place of brokers, clearinghouses, other systems, or regulators to impose any barriers, or tests to this end.

John Amarilios Comment On Regulatory Notice 22-08

I am fully cognizant of the risks and opportunities in investing in leveraged funds. I should retain my ability to choose my risk levels and such choices should be available to the public at large, not only large futures players. Inverse funds are a way of hedging portfolio risk - Do not make me jump through inordinate hurdles to do so or else I may consider withdrawing from US markets

Dallas Miller Comment On Regulatory Notice 22-08

This is ridiculous that FIRNA is attempting to block me from investing in inverse or complex products when I know enough about what Im investing in. This is an outrage and should be protected for all retail investors.

The only reason this is happening is because a larger number of investors are investing in these waiting for markets to turn south. Ive been watching and waiting since 2008 to do this (as I imagine many others too) and to limit or restrict now that markets are struggling is outrageous.

Mark Sutton Comment On Regulatory Notice 22-08

This would be a catastrophic move for investors who are deeply invested at this point in time. What would be better is a clearer disclosure with a clear example of what can happen to leveraged ETF's along with an acknowledgment of understanding. For Example: 1) Leveraged EFT's can lose value at a rate greater than the loss of the market. (Please sign and date that you understand) Ex: 2) The triple leveraged ETF "TNA" can and often will lose value at 3-4 times the broader market. Ex: If the SP 500 only drops 5%, it is possible that the TNA ETF can drop 15% - 20%.