Subject: File No. S7-24-15
From: Peter Kakos

January 29, 2020

This is an unnecessary rule that provides no added benefit other than potentially pushing investors into higher leveraged (and more burdensome, read: costly) instruments such as futures and options. By not allowing the individual decide what is good for them, you are taking away, yet another method, for those of us that dont have millions of dollars to invest and wish to invest or hedge our portfolios with an equity traded instrument.

I would love to know who proposed this rule, who was behind this proposal, and if there are any beneficiaries that have something to gain by eliminating these instruments.

This is a solution in search of a problem.