Subject: File No. S7-24-15
From: Griffin Michl

February 21, 2020

I am a retail investor who is concerned about the proposed rule to make it burdensome to purchase leveraged and inverse funds.

These funds are an important aspect of my portfolio. They have given me and other retail investors access to financial instruments previously reserved for institutional investors. This rule harms retail investors like me.

I understand the advantages and risks of leveraged funds, and I do not have any third party judging my fitness to hold them.

Please do not follow through on this proposed rule.