Subject: File No. S7-24-15
From: Vincent Wu

March 29, 2016

I buy many leverage etf when bank person I know tell me about them . He say get 3X or lose 3X he say easy money better 1x. But I lose more in minus 3X. I buy some make little lose little. I like and change all my money leverage ETF. But next I lose very lot using YINN hold for many weeks. China up lot inside weeks so I should be good but no My money all gone. I call bank employee I know he laugh me say I stupid. If I stupid why he sell to me? Why he no say any thing not hold more one day? He lie to me. I call he boss I call HK regulation department I call lawyer. All people say can not do nothing because in USA and I buy in HK. If only US product why I can buy? If only US why I get email in Chinese word? They sell because they no care and know hard to stop US company. They sell because make VERY lot money in currency exchanger fee and servicing fee.
SEC if you US watchtower you end all leverage ETF. China stock not very good now. But many people now use leverage etf with this and to make back gone money have to buy more this thing. Can not make back in 1x etf if lose in 3x etf have buy 3x again. One day many people inside Asia use this stuff and when time every body lose money and Asia so big make U.S.A. lose money too. Big crash for world. Asia look up to US for guidance. Asia no have many leveraged ETF because they wait to see what SEC do. If SEC do nothing next more crooks come Asia with this type ETF. Hong Kong now have leverage ETF but many people buy direct U.S.A. because believe more solid strong.
SEC I ask you honoured official for US please stop leverage ETF. Thank you very much.