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Peter Pham Comment On Regulatory Notice 22-08

To Reader, As a retail investor that actively manages their own portfolio: - I use leveraged ETF's to hedge against and gain exposure to volatility in the markets as a way of running a long/short portfolio. - I understand that these products are not meant as long-term holding devices and are to be strategically applied depending on market conditions. - Limiting my ability to use these ETFs would restrict my abilities for hedging/leverage to just options which are a worse way for a retail trader to hedge/gain exposure compared to using these products.

Joshua Hudson Comment On Regulatory Notice 22-08

Warning: Rule #22-08 is currently the subject of a deceptive advertising attack. Let's play "which of these is not like the others": * Target Date Funds * Funds using cryptocurrency futures * Reverse Convertible Notes * Volatility-Linked Funds The answer is "Target Date Funds". I don't use this, I don't intend to use this; but it's an old tool that's well understood and is being used as the first item on the list of the advertising campaign. I read the actual rule and could find no rule opposing. I could guess the why and the why might be "funds selling short" are the actual target here.

Thomas Moore Comment On Regulatory Notice 22-08

This proposal is is limiting to the individual investors. Not allowing investors to access derivatives of the market does not allow for a fair playing field. Investors must be made aware of risks and accept them. Having a level playing field with large investors, real money investors, hedge funds and others allows people to hedge their investments like larger investors. Being able to protect money on the downside and participate on the upside only allows investors a way to mitigate risk. This is another proposal that will make the playing field more lopsided to institutional investors.