Subject: File No. S7-24-15
From: Donald Lange

March 12, 2020

I have been an active investor in equities for over 40 years and have actively used leveraged
ETF's over the past 20 years, primarily as protective hedges. The proposed SEC changes would make it extremely burdensome for me to qualify to continue this very effective hedging strategy. I fail to understand why imposing these restrictions would do anything to benefit my trading approach, and would appear to be unwarranted and unnecessary. The proposal seems at odds with a long standing system that allows investors freedom of choice in making their investment decisions.
Thank you for affording the opportunity for investors to voice our concerns and opinions on this important issue. Please reconsider and not initiate the proposed change.