Subject: File No. S7-24-15
From: George Renaldi

January 30, 2020

To Whom it May Concern:

The proposed regulation to limit an individuals ability to purchase leveraged and inverse ETFs/Funds is completely out of line and unnecessary.

As a you investor with high risk tolerance (but little time), investing in such funds has been an important strategy for me (and many others) because it allows us to not only invest in the overall market/a certain sector easily, it allows us to increase our returns (and risk) to maximize our own risk/return profiles.

As my age and level of investment sophistication has grown (I am now an accredited investor) I have learned a great deal about how certain equities ETFs behave in relation to the markets, all about options and other financial instruments, as well as margin. I understand the various risks associated with investing as well as how an unexperienced investor could go down a misinformed investment path however, these sort of ETFs are not in that category. If the SECs mandate is to protect the market and investors, this regulation is not within that vision, it is only creating bureaucracy and barriers to entry.

There is no perceived benefit to an individual or society in creating more regulation, only increased costs to the American taxpayer. Frankly, it's aniti-American as it limits individual freedom to pursue one's own interests (and possibly go bankrupt in the process). I insist that this proposed regulation does not proceed.