The administrative appellant, in connection with trading of the "XXX S&P GSCI Crude Oil 2x Leveraged ER Futures ETF," refused to accept a letter (Ref: zheng bao fa zi No.1110010402) issued by the Securities and Futures Investors Protection Center on 7 January 2023, and therefore filed an administrative appeal with the FSC. The FSC Administrative Appeal Review Committee decided as follows: The administrative appeal will not be entertained.