Subject: File No. S7-24-15
From: Vance Fraser

January 30, 2020

RE: Proposed Leveraged and Inverse Fund Regulation concerning limiting access to the public.

1. Clearly the SEC did NOT dream up this nonsense on their own. It was sponsored by someone who either had a) sour grapes over losses -or- a more likely cause b) persons who don't want the public to have easy access to trading instruments that could offset losses or provide gains in the event of a market downturn.
2. Whatever the reason, it is UNACCEPTABLE as I maintain positions in such Funds at times.
3. If I or my broker on my behalf are forced to close out positions of ANY Funds, due to a new regulation, it seems a Class Action suit would be the way to go. Damages as well as Breech of the Public Trust and likely conspiracy to damage the trading public.
4. If the SEC employees endeavor to support a particular sponsor's regulations thereby making the playing field lopsided in favor of that(those) sponsor(s), under the guise of "protecting the investor" that space has already been filled with "Inverse And Leveraged Funds are NOT investments for investors but trading instruments for Traders."
5. It will be interesting to note the timing of such actions, when future market downturn warnings are coming in from many sources.