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Stephen Lihn Comment On Regulatory Notice 22-08

Comments: I am a quant oriented investor. I have been using index based, 2x and 3x, long leveraged ETFs in my retirement account. I think these types of leverage isn't as complex, and should be allowed to trade. Simply put, they are really a form of expressing Kelly Criterion on an index in which it's long term performance and volatility is well understood by quantitative oriented investors. However, I only advocate trading of this particular group. There are other more sophisticated products that might have flaws that can be wiped out completely.

Kevin A Comment On Regulatory Notice 22-08

I strongly oppose the regulations being considered by the Financial Industry Regulatory Authority (FINRA), that we may not be able to buy leveraged and inverse funds and dozens of other popular investments deemed to be complex unless we: Pass a regulator-imposed test of your specialized investment knowledge Demonstrate a high net worth Get special approval from your broker Attest to reading certain materials Go through cooling off periods during which you cant invest Please stop moving forward with these unnecessary regulation that hurts only the hard working middle class who want to have t