Subject: File No. S7-24-15
From: Walter Fallows

February 20, 2020

I have been a successful investor for 40 years. Leveraged and inverse funds are tools I use to protect my portfolio and increase returns.

I dont need a government or other entity assessing my ability to manage my investments. There has been no data presented showing that there is a problem with leveraged and inverse funds. What is next? Competency tests to determine my ability to buy a stock?

We have various tools for investment available to us, and it is understood that as an investor we need to understand how these tools work. I do not want government imposed limitations on my ability to use these tools.