Subject: File No. S7-24-15
From: Samuel Donovan

January 29, 2020

The proposed regulations are:
1. Bad for Investors. If the proposal is adopted, some investors could be prevented from buying them by an overly burdensome qualification process.
2. Unnecessary. I'm capable of understanding leveraged and inverse funds and their performance characteristics, and I dont want a third party evaluating my capability to do so and potentially preventing me from buying them.