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Richard Cuesta Comment On Regulatory Notice 22-08

During my 40 year working career while saving for retirement, I educated and positioned myself to competently manage a retirement portfolio. I am fiscally conservative and understand the risks associated with using the myriad the investment products currently available. Besides a variety of indexed ETFs, I have come to rely on the judicious use of inverse and/or leveraged funds, commodity, and other specialty funds. The availability of these products make it possible to mitigate the volatile nature of the markets.

Hugh Coffey Comment On Regulatory Notice 22-08

I am a small private investor with a great deal of experience however I might not measure up to your new strict standards.That concerns me as I use these investments as short term hedging vehicles. I shouldn't have to go through a special process to qualify, what brokerages have in place now is very adequate. Your proposed new rules would make these products the exclusive trading grounds of the rich locking out millions of Americans who could benefit. I therefore oppose these new rules.

Grant Lehman Comment On Regulatory Notice 22-08

You shouldn't have to go through any special process like passing a test before you can invest in public securities, like leveraged and inverse funds. I am capable of understanding leveraged and inverse funds and their risks. Please don't make the investment landscape more difficult by imposing unnecessary restrictions. Inverse funds are one of the few ways to have a strategy that protects my investment in downturns whether used as an investment on its own or if used as a hedge.

Cesar Ramos Comment On Regulatory Notice 22-08

Leveraged etfs are risky, yes. But what better way is there for a low net worth, young individual to increase their net worth. Most people that buy leveraged etfs, actually win. Look at upro's, spxl's, sso's, spuu's return over these decades. It will continue in a relevant sense. All of those etfs would have survived 2008 and ended up with more money than spy. If you want to restrict leveraged sectors, that's fine but restricting leveraged indexes are a bad idea. Also allow us to have a leveraged small cap value fund please.