Subject: File No. S7-24-15
From: Tom Hedrick

February 20, 2020

I am an experienced, qualified investor and have made millions through trading and investing in these funds. I am vehemently opposed to this proposal as it would inhibit the proposed regulation. This action would set a dangerous precedent where a government agency would decide what vehicles in which I could invest and which ones I could not. Existing regulations and disclosures are fully adequate to describe the risks and benefits of leveraged and inverse leveraged ETFs.

Obviously I am fully capable of understanding leveraged and inverse ETFs and preventing me from buying/selling them would harm my ability to invest freely and participate in the free markets that helped make me wealthy. Additional regulations are not necessary and would harm these ETFs by limiting the pool of investors with the ability to buy and sell them. Liquidity of a free market is necessary for efficient trading mechanisms.