Subject: File No. S7-24-15
From: Soyoung Cha

February 19, 2020

As an individual investor, I've been trading leveraged funds for a long time. I know very well the risked involved with the leveraged funds, but they provide much flexibility in managing the investments properly. If you presume that the investors don't know the risks and curtail their investment freedom, it is a big mistake.

We strongly believe this proposal is bad for investors, unnecessary and sets a dangerous precedent.