Subject: File No. S7-24-15
From: Robert Gumpertz

February 20, 2020

I strongly object to your proposed rule S7=24-15. My wife and I are both retired, and a major portion of our net worth resides in our portfolio of stocks and bonds. Leveraged and inverse funds are a very cost-effective way for us to hedge against downside risk in our portfolio. Anything done to restrict our access to these funds will impair our ability to hedge, and will increase our vulnerability to market downturns.