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Marcel CFA Comment On Regulatory Notice 22-08

I'm concerned about your plan to restrict my access to leveraged and inverse ETFs. I strongly urge you to reconsider your plans. I should be able to choose investments that are right for me and my family -- regulators should not interfere here. Passing a test or having cool off periods is completely unnecessary hand holding. You are trying to protect a small subset of investors that are investing in a reckless fashion. They are wired that way and will easily find another way of being reckless.