I was Chairman of a Panel. At the Pretrial Hearing Claimant asked for an an Expedited Hearing as his client was elderly and ill. The attorneys had first been asked if the Panel , as constituted was satisfactory and t]both counsel agreed it was. The panel requested an expedited hearing and Respondent counsel advised they were too busy and not available. As Chairman i advised that an expedited hearing would be held. Respondent then advised the panel was not acceptable and I should be recused. I later learned the case was settled, but I received a complaint call from FINRA.

In an age in which we are watching the breakdown of traditional portfolios like the 60/40 fail to limit downside risk thanks to the correlation of stocks and bonds its important advisors have all the tools necessary to help their clients. Certainly these funds can be misused, misunderstood, or over-allocated to but that shouldnt prohibit the responsible use of such funds. I believe guidance, not prohibition, would be in the best interest of the investing public. Thank you for taking the time to read this.

I strongly oppose the proposed restrictions on these securities products. Primarily, I am able to evaluate, analyze and decide for MYSELF when and if these securities are appropriate for me. I possess, as do, I would presume, the overwhelming majority of inventors, the skills, knowledge, experience and discretion needed to decide whether or not to use them. These are important hedging tools, otherwise not available to me. To take that option away from me as an individual

I should not have to go through any special process to invest in leverage ETFs. I have been investing for years and this is part of my investment strategy. This has worked well for me. Using leveraged ETFs is safer than buying individual stocks and provides a better return. It should be my choice as to what I invest my money in!

Customers should be able to choose what is right for their investment strategy. Making changes would cause many to need to do leveraged complicated futures trading to accomplish the same goal and causing great financial risks compared to a simple leveraged fund.

My background is a buy-side equity trader for 28 years. There are complexity levels of investment products. Screening should be increased as the complexity levels increase, such as the Option trading approval levels are done. There are some newer products like inverse leveraged, and multiplied leveraged ETFs that normal investors do not understand. Specifically the use of futures and options and the declining time value of the instruments. This comes into play during a roll of the instrument to the next expiry.

ILITY TO BUY LEVERAGED AND INVERSE FUNDS

I buy and sell leveraged ETF TQQQ frequently. I understand the risk in investment and use it as an important strategy to my investment goal. Right now I have a lot unrealized loss on TQQQ. If I am restricted from trading this leveraged ETF, then I will never recover my loss. Therefore, I strongly oppose any restrictions on my right to trade it. It is my investment and I should be able to determine what I want to do with it. Interference from FINRA is not necessary and is detrimental to my retirement account!

This is a ridiculous policy that only benefits high net worth individuals and institutions while trapping everyone else in conventional investments. People should have the FREEDOM to invest how they choose. There are so many ways for people to lose money in the stock market it seems like a very focused solution to an extremely broad issue.

I am an ultra high net worth investor. UPRO is an important part of my investing future. It is my dream to leave money to future generations. UPRO is an important part of my charitable giving. I plan to hold UPRO for the remainder of my life. I am a long-term investor. I understand volatility. I have held UPRO for eight years. It goes up and down. I have achieved a 28.5% CAGR by holding and not selling. I am an investor not a speculator. In the long run it will create significant wealth for me and my family. Please do not prohibit me and my family from investing in UPRO.