Subject: File No. S7-24-15
From: Tibor Kiss

March 25, 2020

Dear Sir/Madam:
I am submitting here my comments regarding the proposed regulation that requires an evaluation of the investor whether he/she is allowed to buy leveraged and inverse funds.

I strongly believe the proposed regulation is bad for investors. The leveraged funds have been an essential part of my portfolio to help me achieve enhanced returns. The regulation may cause additional cost to the brokerages, which will transfer those costs to the investor, reducing the investors return. Why should these particular investment methods be punished among the thousands of other speculative investment vehicles?
These funds allow the investor to be fully invested (100% in the market) and yet to have cash on hand. Trading with this available cash,
buying on dips and selling on peaks, actually helps reducing market volatility, when lots of investors like myself use this strategy.

The regulation is unnecessary: What danger does trading in these investment vehicles poses to the market? Where is the problem that the new regulation is trying to solve? Saving investors from losses? There are plenty of other ways to loose money, why should we be protected from loosing money with these ETFs and not with other methods?

The regulation is un-American: We are people responsible for our own actions. We don't need the government holding our hands. Investors should be allowed the freedom to make their own investment decisions, and face the positive or negative consequences.