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Honming Ng Comment On Regulatory Notice 22-08

I am an individual investor and I have been taking advantage of leveraged ETFs for some time. I limit use of leveraged ETF to one of the 3 major stock market indexes, where my portfolio has diversification. I understand leveraged ETFs may be volatile, but theres a lot of individual securities that are more volatile. Regulators should not place more restrictive rules on leveraged ETFs. All individual investors should have the same rights to choose public investments for themselves.

Oscar Cartaya Comment On Regulatory Notice 22-08

I think the proposed regulations violate my freedom to use my own funds to invest whatever public securities I want to invest in. I am perfectly capable to understand and assume the risks inherent in any kind of public security I choose to buy when I choose to buy or sell it.

I am a long term investor and in times of extreme volatility it is important for me to have inverse funds readily available to use in my portfolio. I use these to cover losses on my other investments and to maintain the stability of my portfolio.

Fred Saunders Comment On Regulatory Notice 22-08

I should be able to choose investments that I deem appropriate for me. I primarily use inverse funds to hedge my fixed income portfolio. This enables me to collect interest on my investments while limiting downside exposure to my principal in a rising rate environment. Not having the ability to do so would unnecessarily cost me loss of principal. In addition, I also use inverse treasury funds as an investment in times of rising interest rates such as now. I don't see any greater risk in that than buying Treasury notes.