Subject: File No. S7-24-15

March 12, 2020

I have been investing in the stock market for more than twenty-five years. When I invested in individual securities in my early investment years, I wasn't successful at all. After switching to the first ETF, then only leveraged ETFs, my success in investment improved drastically. Eliminating the leveraged ETFs from the choices of investment vehicles is the wrong decision. If the leveraged ETFs are volatile, how about the individual securities, mutual funds, and options. Every investment tools in the stock market involve some degree of volatility and risk, even crossing the street in daily life has some degree of risk. Are we going to eliminate options because they include a high risk? The SEC proposed regulation of removing the leveraged ETFs from small investors is a bad regulation. IT IS PULLING THE CARPET UNDER OUR FEET. They are pushing the small investors like me out of the stock market. The SEC's proposal to terminate the leveraged ETFs will take away our freedom of choice in the stock market. For instance: I have just followed the rules that I developed through my experience in the stock market. Therefore, I was out of the stock market before the most recent stock market downturn. And I will be out of the stock market until the upturn develops. I firmly believe that investing in the leveraged ETFs is one of the ways to be successful in the stock market people like me, small individual investors who know what they are doing.
Thank you,
(Mr.) Tankut KAHRAMAN
Buffalo, New York