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Lee Steur Comment On Regulatory Notice 22-08

I have invested and traded in stocks, mutual funds, ETFs, put and call options, leveraged and inverse securities, futures, gold and silver for 61 years. The US markets have grown and prospered because of innovation. When a market fails to meet the needs of participants, that market goes away on it's own.

The huge volume of shares traded in some leveraged securities is substantial evidence that the securities are meeting the needs of many investors and traders who use them for various purposes, including portfolio protection.

Francis Schwartz Comment On Regulatory Notice 22-08

This is my second letter to you. We dont need more government regulation on investing. I am a small investor with an IRA. I have a small amount to invest outside of the IRA. However I choose not to invest that money because capital gains tax would eat up any profit. If you want to help the small investor then give us a $10,000 exemption for short and long term capital gains tax in each tax year.

Robert Fader Comment On Regulatory Notice 22-08

The responsibility for researching the investments that are right for any investor fall solely on that investor. While larger organisations and managed portfolio funds have extensive risk-management and analysis algorithms at their disposal, a self-directed individual investor has only the resources they choose to rely on. This is their choice to use as much or as little research as they deem appropriate, and it must be respected. It is not the place of brokers, clearinghouses, other systems, or regulators to impose any barriers, or tests to this end.