Subject: File No. S7-24-15
From: Carl Stehle

March 1, 2020

Dear Sir/Madam,

Given that:

A) at least one large investment firm (Vanguard) already prohibits ordinary investor trading in leveraged and inverse funds,

B) at least one large investment firm (Schwab) requires both explicit and annual investor agreements in order for ordinary investors to trade in such funds,

it would appear such funds may already be sufficiently (or even over) regulated.

Regards,
Carl Stehle