Subject: File No. S7-24-15
From: David Jacobs

February 19, 2020

Please do not proceed with implementing regulations that would make it much more difficult for investors to use leveraged and inverse funds. Such funds allow investors to hedge other investments and to make unique pairs trades that otherwise are not possible.

All investments carry inherent risk, and it is the responsibility of the individual investor, not a governmental mandate, to understand that risk prior to making such an investment.

A healthy marketplace must be founded on the ability of investors to decide for themselves what is best for their portfolios and their particular financial goals and situation.