Subject: File No. S7-24-15
From: Danny Wu

January 31, 2020

I am an Australian investor who invests in the US markets, because they offer the widest availability of securities, in a sensibly regulated environment with the lowest transaction costs.

I am deeply concerned about the SEC's proposals. As a responsible, self-taught investor, I use leveraged and inverse ETFs in order to implement efficient portfolios that take advantage of portable beta.

I am well aware of the limitations and risks around these instruments. There are significant benefits to investors, including those without formal financial education or training like me, and I believe the proposed regulations will result in worse outcomes for the investors, as well as US markets as a whole.

Please re-consider these proposals and keep things the way they are.