Subject: N/A
From: Newman Waters

Mar. 18, 2020

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

This is a classic case of the government looking to solve a problem that does not exist. What happened to the concept of personal responsibility with regards to making investment decisions? There are legitimate reasons for investing into leveraged ETF funds that allow individual investors to gain access to opportunities that they would not otherwise have on their own. As long as the fund company is making the required disclosures in the fund documentation, then I don't see what the issue is. I should not be required as an individual investor to prove my worthiness to invest in any particular ETF fund. Many investors value their financial privacy and would simply not continue to invest in these type of funds if such rules were implemented. This appears to be an attempt by the SEC to put fund providers they don't like out of business rather than to protect investors. Thanks Big Brother, but we don't need your help! 

Newman Waters