Subject: File No. S7-24-15
From: James Baldwin

March 11, 2020

It is entirely unnecessary and unwise to consider these changes to leveraged and inverse funds. As an individual investor for over 30 years I fully understand loss and gains and the risks I take.

This would have a chilling effect on individual investors and ultimately restrict stock trading to only the wealthy or professions. We need more freedom as individual investors, not less.

Thank you