Subject: File No. S7-24-15
From: Howard Faulkner

March 24, 2020

I use 3 leveraged etfs as a means of hedging my equity investments. I only use 1x leverage. In the recent market turmoil, I am very happy to have these investments.

I believe the proposed regulations would make these investments unnecessarily burdensome and restrictive in the future. Therefore, I am opposed to the proposed regulations.