Subject: File No. S7-24-15
From: Mahmood Virani

March 15, 2020

With regards to the idea to make it more onerous to purchase inverse or leveraged funds - how is this logical. People are allowed to buy options without having a clue as to how they work, similarly for shorting stocks, same with buying stocks that could disappear overnight (Enron, Lehman etc ). I use these products to hedge my risk in my long portfolio. What you are doing will actually hurt me. Just look at the damage the coronavirus has done to the market without access to these products my portfolio would be much more negatively affected.