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David Predmore Comment On Regulatory Notice 22-08

I see no reason to regulate what a person decides to do with their money. The government doesn't appear to have any restrictions on it's ability to manipulate the market on a daily basis as it does. The craps table isn't restricted or any other game in the betting business. Margin is allowed, shorting is allowed, and I'm sure there are other things big money is allowed to do. I use these funds as a hedge to protect my portfolio at a cost I can afford.

Brian Macnish Comment On Regulatory Notice 22-08

As a FINRA member and long time investor in inverse and leveraged ETFs, I am totally against your proposed regulations in relation thereto. Yes, these are potentially lethal products and I've had my share of losses trading them, but they are still a valuable option to have in one's investment quiver...especially in uncertain times...like now. FINRA trying to regulate investors' access to products like these is like the government trying to impose price controls on food and gas...neither work and both ultimately hurt the ones they are intended to help.

Jonathan Leman Comment On Regulatory Notice 22-08

I think it's extremely important that professional advisors have the ability to work with or against the general market directions from the standpoint of hedging client portfolios, and these funds are the easiest and most efficient ways to implement these hedges. For example if the markets are down 15% this year and a hedge with this type of fund means only -8% loss for clients then they are very critical tool that should not be taken away.