Subject: File No. S7-24-15
From: Daniel Bauman

February 19, 2020

It is my opinion that this proposed rule creates excessive and unnecessary burdens for investors seeking returns that could exceed market performance. Various investment types, including real estate and other businesses, use leverage to gain improved returns. My risk tolerance is something that I understand well and is well understood by my financial adviser. Being able to invest in leveraged and inverse funds as part of my overall investment strategy is important to me and is something that I believe should be easily done at my own discretion.