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Dharam Soni Comment On Regulatory Notice 22-08

As an investor it's my responsibility to understand what I am investing in. Regulators shouldn't restrict the people's right to invest in stocks or funds and they definitely shouldn't put a requirement that you need a "high net worth". Why should individuals who do their research have to jump through hoops in order to invest because someone else didn't understand what they were doing. This would be akin to making an entire class retake an exam because some students chose not to study and failed.

Maxwell Ma Comment On Regulatory Notice 22-08

ProShares offer a choice to investors. Disclosure of risks associated with ProShare's ETFs are well documented. Communication is regularly provided and easily reviewed by the public at large. Introducing illiquidity to the marketplace does not benefit existing shareholders and rather hurt small investors like myself. I currently invest in leveraged funds to take advantage of short to medium horizon opportunities when market stresses occur. I do not want to take margin debt when such opportunities occur.