Subject: File No. S7-24-15
From: James Warnock

March 12, 2020

To the Securities and Exchange Commision:

I am writing in regards to a proposal that would make it more difficult, or even prevent you from buying, leveraged funds and inverse funds. Over the last several years, using leveraged funds has greatly enhanced my overall portfolio returns and increased my odds of achieving my retirement goals.

If the proposal is adopted, some investors who could benefit from the enhanced return using leveraged and inverse funds may or longer have that ability under the proposal.

Requiring qualification for the individual investor would be an unjustified break with how the SECs regulation of the sale of securities in the public markets has worked for almost 90 years. This proposal is in stark contrast with our long-standing system that enables investors and their advisors the freedom to make their own investment decisions.