Subject: File No. S7-24-15
From: Karim Mikhail

December 15, 2015

Good afternoon. I am emailing you to please not put into place any restrictions on inverse ETFs. I understand how they work and the risks involved. I use them as extra income to supplement my income. I am trying to support my family and they help me tremendously. I am looking forward to hearing back from you all soon.  Thank you for taking the time to read this email.

Karim Mikhail