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Paige Formicone Comment On Regulatory Notice 22-08

So you won't do your jobs and limit what MMs and hedge funds can do, but you want to regulate what retail investors can and cannot invest in?? The leveraged funds give everyday retail investors a vehicle to make a little bit more than picking individual stocks. For those of us that don't trade options, especially on individual stocks, the leveraged funds are a way to invest in whatever direction we think a sector or market will go. Over the past two years, it has become incredibly apparent that there are already different rules for different classes of investors.

Michael Milburn Comment On Regulatory Notice 22-08

Hi, I'm writing with concern that my ability to hedge my portfolio volatility via inverse ETFs is under consideration of being limited or taken away. My only comment is that the ability to hedge downside risk via inverse ETF is one of the few ways other than outright selling to cash that I have to reduce risk in certain environments. In a rising rate environment in particular bonds are unhelpful in this regard, so inverse ETFs provide a direct way to reduce downside risk. Please be careful with any regulation you put on my ability to protect my downside when conditions warrant.

Matthew Avery Comment On Regulatory Notice 22-08

Dear FINRA, I am a former mutual fund manager and current private investor who has utilized many types of ETFs over the years to achieve my investment strategies. I find the leveraged ETFs to be very valuable and straight-forward and do not see the need for restrictions or further regulation. In my mind, the proposed regulations would add undue burden on investors and be a waste of taxpayer money. The only type of ETF that I would restrict or require more disclosure are ETN's with their dependence on the issuer of the note.