Subject: File No. S7-02-20
From: CRAIG P CHALIFOUX

February 23, 2020

I've been using leveraged and inverse funds for some time. I understand how they work and understand their risks and have been willing to take those risks in the leveraged securities owned over the past several years. I have made money and lost money in them and am surprised that the SEC is able to even suggest that I will no longer have the right to participate in using them.

Free markets are not free if you regulate them to death. Those markets become your markets

I know the risks, acknowledged them before participating and that should be enough for you if it's enough for me.

I no longer need my father, or the SEC, to take care of me.

I am willing to talk to anyone regarding your proposed regulations.