Subject: File No. S7-24-15
From: Charles Cernuda

April 17, 2020

Enter your comments here. It is hard for me to understand why inverse funds which are not leveraged which is what I currently own to protect my portfolio requires a third party evaluation of my ability to buy them. I know what I am doing and why I am buying them. I object strongly to Government interference in free public markets and interfering in my ability buy public securities.