Over the years, I have used many of the "complex products" that are the subject of Regulatory Notice 22-08 including leveraged ETPs, inverse ETPs and options. In all cases, I did the appropriate research on these products to understand how they work and the risks associated with using them. These products have been an important part of my investment portfolio to either hedge certain positions or to leverage other positions. In all cases, if I reviewed a complex product and it was unclear to me what it was or how it worked, I simply did not include it in my investment portfolio.

In a free country I should be free to invest my money the way I see fit, not the way the government wants me to invest. I have done very well in leveraged and inverse funds. Markets go down as well as up and you can beat the market without the risk of individual stocks by using leveraged funds. The government has already taken far too many of our rights away in an effort to cater to powerful & wealthy special interests. This would be another in a series of travesties.

It is very important to me to make my own investment decisions, not have them made for me. I want to retain every opportunity to make any type of investment I choose. I've purchased inverse and leveraged funds without excessive risk and have made a profit. One shouldn't have to be wealthy to have the "privilege" of the full range of investment opportunities. It's wrong to close most people off and require "testing" to see if you're competent.

It should be our own decision what types of investments we want to invest in are.

I have used inverse ETFs for over twenty years, well aware that they are risky investments. Yet they are important to diversify away and/or risk-manage my core "long" positions. Losing this functionality would seriously INCREASE the risk in my investment process. Please do not block or qualify the use of inverse ETFs any more than at present.

I not regulators should be able to choose the public
investments that are right for me and my family.
Public investments should be available to all of the public,
not just the privileged.

I have been Trading Stocks & Options since April 13 1963 when I Turned 21 . My First Exposure was a Brokerage Firm at 30 Rockefeller Plaza in N.Y.C.

I have been very Successful over the last 59 years and I Understand the Risks Involved in Leveraged - Inverse Funds. My Roth Ira is the only Account - I use for this Type of Accounts . My Wife and I have many other Accounts at other Institutions and would APPRECIATE no Further Discussions as we both Understand . Thank You

Me not regulators should be able to choose the public
investments that are right for me and my family.
Public investments should be available to all of the public,
not just the privileged.

Leveraged and inverse funds are an important part of our overall investment strategies. We use them as a limited portion of our overall portfolio to achieve specific goals. We are fully capable of understanding leveraged and inverse fund and their risks. We should be able to choose the public investments that are right for us and public investments should be available to all of the public, not just the privileged.

allow investors to act in a market economy