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Richard Langer Comment On Regulatory Notice 22-08

It is up to me not the government if I want to invest in leverage securities. I have investments in both leveraged and non-leveraged. I do not need to take a test to decide to do this. Anyone that looks at a funds daily history should easily see they are more volatile than non-leveraged. If they need a test to determine this, then they should not be handling their own investments.

Gregory Nicosia Comment On Regulatory Notice 22-08

Dear Sirs: I object to your attempts to stifle the free trade in the stock market. Inhibiting my ability to buy inverse stocks without demonstrating compliance with rules meant to restrict this freedom is anti-American. Leveraged and inverse funds are a key part of my investment strategy. Let free trade continue and stop any attempt to restrict our freedom to invest as we see fit.