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Ian Frazier Comment On Regulatory Notice 22-08

I wish to maintain my current freedom to invest in public securities of my choosing. Though the notice means to reduce the risk for investors, it will have an echoing effect across asset classes that may not be fully realized. America is a land where we grant greater freedom than most. This freedom has allowed us to create one of the greatest economies of all time. The reduction of risk exposure will ultimately reduce return.

John Schuster Comment On Regulatory Notice 22-08

Markets go down at times. Using leveraged instruments as a hedge to keep my portfolios safe in sudden downturns is the only way I can afford to stay invested in the markets as I enter retirement. "Buy and hold" isn't safe at my age. Fixed income products don't pay enough to cover my needs, and they have their own set of risk factors. The only way I can sleep at night is knowing I have leveraged positions as part of all my portfolios in case the markets do something unexpected. If these are taken away, the rest of my retirement will be spent in worry and anxiety.

Howard Levenson Comment On Regulatory Notice 22-08

FINRA has already established a suitability requirement on its members that do business with the public. Establishing additional suitability requirements on public investors duplicates
existing regulations.

When FINRA members have determined that certain investment products are suitable for its clients regulators only concern should be the validity of that determination and not question the clients investment decision.