Subject: File No. S7-24-15
From: Stephen Ramsey

January 30, 2020

I believe this Proposed Regulation is Bad for Investors. If this proposal is adopted, some investors who could benefit from the enhanced return and portfolio protection potential of leveraged and inverse funds could be prevented from buying them by an overly burdensome qualification process. I don't feel the SEC has shown there is a problem that needs to be solved with respect to leveraged and inverse funds. You haven't shown to me why these funds should be treated differently than tens of thousands of other public securities, each with their own characteristics and risks,. The SEC rules and regulations have worked well for over 90 years. Requiring me to QUALIFY to purchase a security in the public market, would be an unjustified procedure.