Subject: File No. S7-24-15
From: Paul R McSpadden

May 13, 2020

Dear Sir/Ma'am, I thoroughly understand the characteristics and risks of leveraged and inverse funds/ETFs. Certainly less risky than if I chose to play my state's lottery with that same percentage of my overall investment portfolio. How often I choose to monitor that portion, along with other portions of my overall investment portfolio, is my prerogative. My long-established brokerage firm, who I first started a relationship with almost 30 years ago, holding my L/I ETF(s) is fully capable of assessing my capability of assuming such risk. Please find ways to justify your jobs other than such unconstitutional narcissist nannying. Thank you very much for your time and consideration in soliciting my comments on this issue.