Subject: File No. S7-24-15
From: Thomas Reid

January 30, 2020

Leveraged and inverse funds are an important part of my retirement investment plan and provide me with the flexibility to achieve my objectives in any investment environment.

I am fully capable of understanding the risks and rewards associated with inverse and leveraged funds and do NOT need a 3rd party evaluating my capabilities to do so - such an evaluation would represent an invasion of my privacy and of my freedom, not to mention yet another avenue for potential identity fraud.

This proposal is bad for investors and sets a dangerous precedent of inhibiting my rights as an investor. Please do not proceed.