Jeremy Scott Comment On Regulatory Notice 22-08

Comments: I think that L&I funds should still be readily available to retail customers without restrictions. I have done my own due diligence, as I think all investors should, in regards to understanding the products and if they are suitable for me. I understand throughly that leveraged products are not meant to be utilized for a long term investment due to the negative drag built into the products. They should only be use as short term trades. I think inverse products are a useful way to short without actually shorting a stock or index because if the price goes higher you could find yourself losing a lot more than intended. I think that a retail investor needs to take due diligence in understanding how all related products work when it comes to investing. I also think Direxion does a good job in explaining this