Subject: File No. S7-24-15
From: Andrew Sheldon

February 21, 2020

Changing the regulations with regard to inverse and/or leveraged funds doesn't make sense. You don't require this of investors who short equities and this is a simpler way of shorting. Changing this rules takes away an easy way for people to hedge against market downturns. Might people make mistakes? Sure, but rather than change regulations on who can buy them, perhaps just create or enforce stronger required disclosures so people who want to invest in them are aware of the risks. Please don't change the regulations on this. It is the most convenient way for us to hedge. Thank you.