Subject: File No. S7-24-15
From: Phillip Lukowicz

March 12, 2020

My wife and I both strongly believe the proposed regulations are (1) bad for investors, (2) unnecessary, and (3) a dangerous precedent.

Leveraged and inverse funds are important to us and allow us to seek enhanced returns or help us to protect our portfolio.

We are capable of understanding leveraged and inverse funds and their performance characteristics, and I don't want a third party evaluating our capability to do so and potentially preventing us from buying them.

We want to preserve the long-standing free public markets where investors and their advisors have the freedom to buy public securities without additional government-imposed limitations on investor choice.