Subject: File No. S7-24-15
From: Michael Marrazzo

March 10, 2020

I strongly believe the proposed regulations are:
1. Bad for Investors. If the proposal is adopted, some investors who could benefit from the enhanced return and portfolio protection potential of leveraged and inverse funds could be prevented from buying them by an overly burdensome qualification process.
2. Unnecessary. There is not a problem that needs to be solved with respect to leveraged and inverse funds. These funds should not be treated differently than tens of thousands of other public securities, each with their own characteristics and risks. This is simply government overreach- getting involved where you have no business doing so- let investors decide for themselves where they want to invest. Stop over-regulating. Its unnecessary, and burdensome to the average investor. And its a waste of taxpayer dollars and resources.
3. This is a Dangerous Precedent. The proposal would be at odds with a long-standing system that gives investors and their advisors the freedom to make their own investment decisions.