Subject: N/A
From: Michael Bortscheller

Mar. 17, 2020

Comment on SEC Proposed Rule #S7-24-15: 

I am very capable of using leveraged and inverse funds, and use such funds to protect my retirement funds from sudden changes. These types of funds allow me to use leverage with less costs to achieve those results of limiting devastating losses or fluctuations in my IRA accounts. I think inhibiting this type of investing is counter productive and could force me to withdraw from the equity markets completely. I see no reason for this action. 

Michael Bortscheller