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Brett S Comment On Regulatory Notice 22-08

Brett S

I am a retail investor and use leveraged ETFs for a portion of my portfolio. Before buying these leveraged ETFs, I did a significant amount of research to understand the risks. This included back testing how the funds would behave in different market and monetary conditions. I also read the prospectuses for the funds. All this information was available and provided sufficient information on the risks associated with such products. By the same token, I would personally not touch options as that is beyond my personal risk tolerance. Options trading is commonly known to carry higher risk. I would be upset to lose self-directed access to leveraged ETFs and making them available only through financial advisors would only serve to enrich advisors and reduce my total return in the long run. I am also opposed to any limits on holding periods for leveraged ETFs. Please do not place any new restrictions on leveraged ETFs.