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Richard Grodin Comment On Regulatory Notice 22-08

Comments: I would like to voice my opinion about leveraged & inverse products. I believe inverse products provide an inexpensive opportunity for individuals and advisors to hedge / short positions. Other options such as Puts are far more complex and expensive. As for leveraged ETF's, my simple thought is there is no need for these products whatsoever, with the key word being need. Can they work, sure, can they be incredibly dangerous, absolutely.

Patrick Dailey Comment On Regulatory Notice 22-08

Comments: As an RIA and CFP Professional with over two decades experience I can tell you that retail investors are far more experienced, savvy and informed than when I started in the business. Teenagers invest through their phones, something I never dreamed of at their age. The disclosure and consumer warnings required by leveraged products providers more than addresses the risks involved in trading their products.

Johann Redd Comment On Regulatory Notice 22-08

As an institutional and self-taught individual investor, I have utilized leveraged and inverse funds successfully for twenty-five years. I believe them to be a valuable strategic/tactical portfolio option. While I agree that knowledge of these complex products is imperative, the ability and willingness to self-educate or receive training is too readily available to require an onerous process to qualify. With such an approach, I may not have had access for years before I began working with brokers.