Subject: File No. S7-24-15
From: Maria Williams

March 10, 2020

As a long-time investor in LI Funds, I feel the proposed regulation is without merit and against the principles of a free marketplace. To place the burden of deciding whether or not an account can invest in this type of security is way above reason. At this time and since I have been investing, not only does the prospectus disclose the risks, but the brokerage house gives strict warnings and disclosures, along with wording in every web page and informative listing of LI. To be unaware of the statement that these securities are not intended for long-term holdings in unbelievable. A trade cannot be placed without reading the advice of the brokerage firm about the risks, which is sufficient to make anyone aware. As an active investor, I monitor my account not once a day, but several times a day and pay close attention to the market moves and my holdings in particular. For the SEC to place the decision in the hands of my broker of what I may and may not invest in opens the question of who is responsible for money loss in an account. I can foresee many frivolous law suits against brokers brought on by clients looking to recover losses they incur. If this regulation is passed, I believe current and past traders of LI should be "grandfathered" in as we are obviously aware of the risks involved and the purpose of these securities.