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Howard Fleming Comment On Regulatory Notice 22-08

I am writing to object to the subject proposed regulations. I do not believe an investor should have to go through any special process such as passing a competency test before one can invest in public securities such as leveraged or inverse funds. As with any investment, one is PERSONALLY responsible for understanding the goals and objectives by which the fund operates and the inherent risks in that particular investment. Leveraged and inverse funds and especially risk prone but such opportunities are needed to leverage one's portfolio.

James Anderson Comment On Regulatory Notice 22-08

I invest in leveraged funds, and I am completely against this proposal. Specifically, I combine the leveraged funds with the non-leveraged versions of the same targeted index to achieve my desired level of leverage. While my returns obviously lag the index in adverse market conditions, I vastly outperform the market in up periods. I never use the inverse funds, but I always incorporate the leveraged long funds (specifically TQQQ and UPRO) into my investment plan, and would most definitely be negatively affected by this proposed rule.

Edward Chu Comment On Regulatory Notice 22-08

Removing an investment option from public investors is not inline with free market ideals that the American stock market was built on. With regulations on what is allowed to be bought and sold by the public hindered it could erode trust in the American stock market. A good example would be how the Chinese stock markets are partially government controlled and therefore the citizens are not inclined to participate.