Subject: File No. S7-24-15
From: Sean Farnan

February 23, 2020

I wish to share my comments and views regarding my disagreement with the proposed regulations that the SEC is proposing relating to leveraged funds.

First, while i am not a "professional" investment advisor, I have accumulated a significant understanding of investments, including the upside and downside potentials. So, I am someone who uses these investment vehicles with "eyes wide open".

That being said, leveraged funds are an important tool in my overall personal investment strategy. While in certain respects the leverage increases my risk, these vehicles also allow me to use them as a diversification investment, as I am able to deploy my capital in SEGMENTS of the market that I believe have upside (vs. placing investments on individual stocks).

Next, I am a firm believer in the capitalistic system. As long as we have regulations the require clear disclosure, audited financials, etc, I don't believe I need a third party evaluating my investing capabilities. As long as I am investing in vehicles that have a foundation based on publicly traded equity and debt instruments, I feel that the SEC would be fringing on rights to access the free markets.

Finally, as I'm eluding to in the undertones of my comments above, I am a strong believer in the free market system, particularly as it relates to the capital markets. While some level of high level regulation is necessary to prevent inexperienced or unsophisticated investors from losing their accumulated wealth, I believe the existing system is adequate. I don't believe it is necessary for the SEC or any governmental agency to limit my access to the long-standing free public market system that we have in the US which has made our country and economy as great as it is.

I respectfully submit my concerns and hope that the SEC understands that for investors like me, leveraged funds play an important part in my overall investment strategy and is a useful tool to help my family reach economic goals in a responsible way.