Subject: File No. S7-24-15
From: Joseph San Filippo

January 30, 2020

With regards to the proposed new regulations, I find this very unfair and unconstitutional. My reasoning for this is because the SEC should not change the way investors have bought and sold securities for the past 90 years. The SEC should have no right to dictate what a citizen wants to buy or sell in the public market. This is unconstitutional. Another reason why these proposed plans should be abandoned is because leveraged and inverse funds help those investors who have less money than institutional and accredited ones. I know, as being a full time college student, that trading inverse and leveraged funds is a strategy in which I can position myself for better success since I do not have a lot of money to begin with.