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Jonathan Samit Comment On Regulatory Notice 22-08

I recognize that some investors do not fully appreciate the risks of investing in these funds. However, for investors who understand them, they represent one of the few ways non-high net worth investors can simulate the strategies of hedge funds restricted to high net worth individuals. They level the playing field especially inverse funds whose implicit interest rates are much lower than the margin rates charged by brokers to small investors.

Zach Adkisson Comment On Regulatory Notice 22-08

I am a client associate at Merrill Lynch (soon to be registered client associate after passing my Series 7 and 66) and I recently passed the SIE. I fully understand the mechanisms behind leveraged/inverse products. Limiting the accessibility of these products is not in an individuals best interest because they should be allowed to make their own risk/reward judgements. 25% of my portfolio is allocated to triple leveraged funds to potentially enhance my returns without taking on an extraordinary level of risk.

Bobbi Doorenbos Comment On Regulatory Notice 22-08

As a 52 adult, I believe I am capable of assessing my own investments and risk profile. By erecting these hurdles, you disenfranchise common investors from taking advantage of investments that could make a real difference in their wealth. I genuinely don't need additional regulations imposed upon me to tell me what I already know about leveraged and inverse funds. I am capable of understanding their risks. These strategies allow me to take advantage of all market conditions, up or down, in a way that no other investments allow.