Subject: File No. S7-24-15
From: Mauro Zallocco

January 30, 2020

Leveraged and inverse funds are important to me. They allow me to conveniently protect my portfolio from market volatility and provides the opportunity to participate in wealth creation afforded by the rise in the stock market.
Without these instruments, I doubt that my retirement financial goals will be met in the time frame available to me.

I fully understand how these leveraged funds work, I have extensive experience in using these, I do not need a third party allowing or restricting me in using these instruments. I believe that is solely my decision. The government would not be serving me by dictating my investment choices.