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James Smith Comment On Regulatory Notice 22-08

In order for markets to perform in an efficient manner, there must be opportunities for investors to take long and short positions. In as much as leveraged investment vehicles exist for long positions, there much likewise be leveraged short positions available for investors. Leveraged investments provide the opportunity for investors to enhance their returns and need to be available to all investors.

Mark Fogel Comment On Regulatory Notice 22-08

I believe that people should have the right to make mistakes, no matter how stupid. I don't believe any government should interfere with that right, absent fraud. As long as the information is readily available to make informed investment decisions, it's the individual's right to make decisions. People who buy these products are typically more sophisticated than those buying lottery tickets. The Lottery is more heinous than buying complex investment products because it is so regressive and hurts the most vulnerable.

John Roska Comment On Regulatory Notice 22-08

I should be able to choose the public investments that are right for me and my family. Public investments should be available to all of the public, not just the privileged. I 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. I do not need these measures imposed on me. Leveraged and inverse funds are important to my investment strategies.

Richard Naylor Comment On Regulatory Notice 22-08

I have been a market professional for over 50 years, now retired). I advocate free use of levered and short (INVERSE) instruments as they offer hedging and leverage opportunities to every investor. This is needed in these volatile markets. The public are taught "never to sell" and yet we have seen several peiods in recent decades of index declines of 60+% (Nasdaq). It is vitally important that investors be able to effectively hedge with a simple instrument and process. Public warnings and prospectus warnings abound already. If that weren't enough, one mistake is enough to teach the unwary.