Subject: N/A
From: Daniel Smith

Mar. 18, 2020

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

Dear SEC, 

This proposed rule change is bad for investors, is unnecessary and sets a dangerous precedent. Leveraged ETFS have been operating properly for over 10 years. The general public does not buy any of these on accident, only experienced traders and investors buy these. If this rule change is made, some brokers could drop these all together and the funds may go under as a result. If this happens, investors like me would have their leveraged etf positions liquidated, which could result in massive losses. 

Leveraged etfs do not need more regulation and they need to say. For experienced traders they can provide access to excess returns and help hedge portfolio's against losses and major drawdowns. 

Vote no on the rule change! 



Daniel Smith