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Erik Haugen Comment On Regulatory Notice 22-08

Dear Regulators,

As an individual investor fully exposed to the business cycle through full-time employment, it is essential for me to manage my overall risk exposure via investments.

Plain-vanilla long-only equity and fixed-income ETFs and mutual funds have a high correlation to economic outcomes and labor markets; for example, nearly all of them crashed during the March 2020 bear market, at precisely the same time that many lost their income due to pandemic restrictions, and in 2009, when massive layoffs occurred due to the global financial crisis.

J Liu Comment On Regulatory Notice 22-08

We as investors should have the freedom to invest at our risk tolerance level. The fact is simple. All adults in this country can freely go to casinos, where their losses are almost certain. Why can't we invest in leveraged products which have much better chance to grow our net worth. Also, leveraged and inversed products are important in my investment strategy--grow my assets faster in an up market and protect my investments in a down market.

Hien Cao Comment On Regulatory Notice 22-08

Leveraged and inverse funds are a very good, extremely convenient, and easy to understand way for the average investor like me to invest in public securities, and to avoid having to make use of costly and complex options which are often much more riskier.
Under the proposed regulations, I will not be able to fulfill all requirements for qualification, and will loose my right to enhance and protect performance of my retirement portfolio.