Subject: File No. S7-24-15
From: George Michaels

February 20, 2020

The proposed regulations would INCREASE THE BURDENS of investing in leveraged and inverse funds, adversely affecting investors and the brokerage companies. What is next? Will the gov't create burdensome regulations for penny stock investors . . . for investors in stocks with high betas? Only blue chips will be available for investors to invest in without getting government approval? Will there be regs to filter out elderly investors? Investors with only high school education? This is crazy stuff and insulting to investors