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Dirk Jungquist Comment On Regulatory Notice 22-08

As a long time investor the idea that I can not understand the risks of complex and leveraged funds is ridiculous. I regularly use these type assets to hedge against things like the current rise in interest rates and do not require the government to hold my hand while I use them. The market is not a FDIC insured bank account and investors are regularly informed that they can lose money and if they are using leveraged funds that they can lose it in a hurry. Current broker disclosures when beginning purchase of these types of assets is sufficient.

Jess Shih Comment On Regulatory Notice 22-08

I 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, in the spirit of free-market capitalism. No one should have to go through any special process like passing a test before you can invest in public securities, like leveraged and inverse funds. I am capable of understanding leveraged and inverse funds and their risks. Leveraged and inverse funds are important to my strategies. They help me hedge my investments and obtain enhanced returns.