Subject: File No. S7-24-15
From: Stuart Spector

February 20, 2020

To Whom It May Concern,

As a private investor who utilizes both leveraged and inverse funds, I am very concerned about the proposed regulations and what the impact would mean to my portfolio.

My summation based upon reading the proposed ruling is that the regulations are:

1. Bad for Investors
2. Unnecessary
3. Set a dangerous precedent

I take investing very seriously and believe there are enough protections in place to ensure investors fully understand the risks of both leveraged and inverse funds. Further, I find the companies I use do an outstanding job of educating their clients on the risks associated with such funds. In fact, I wish more consumer oriented companies provided such excellent education.

I am very concerned about overreach and the unintended consequences of the proposed regulations. These instruments play an important role in my personal portfolio management and positively impact the way in which I intend to grow my portfolio and plan for my future financial well-being.

I would be happy to discuss my views further.