Subject: N/A
From: MIchael Williams

Mar. 17, 2020

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

I do not see this as a good rule. As long as the risks of leveraged ETF's are disclosed upfront to the investor, then it is up to the individual to decide if they want to take the risk. Restrictions on these and all investment vehicles serve only to restrict liquidity in the markets, which is not a good thing. The investor takes on risk on every investment they make -- even bonds and preferreds take on risks as you know. This would be a bad precedent which would serve as a door opened for other intrusive regulations. Again, get better information up-front to the investor and let them decide if they want the risk.