Subject: File No. S7-24-15
From: Ron Moore

January 30, 2020

Re: SEC Proposed Rule #S7-23-15

To whom it may concern:

I would like to let you know that leveraged and inverse funds are an important part of my investment strategy. I am a sophisticated investor who spent 18 years in the financial markets as a trader, analyst, and in charge of portfolio hedging. These funds offer a quick method of creating leverage and offsetting risks in a conveniently accessible market. To make these markets less accessible to individuals, takes away opportunities that were not readily available to the small investor before the creation of leveraged and inverse funds.

All investments have risks, therefore the public should have and maintain full access to currently available asset classes, and not be hindered by rules making leveraged and inverse funds less accessible to investors like myself.

I use leverage and inverse funds as a regular part of my investment strategy, and my financial well being would be severely affected by not having access to these valuable investment instruments.

A leveraged fund which continues to provide performance in line with the expectations of leverage against an underlying asset or index, then investors to accomplish specific needs.