Subject: File No. S7-24-15
From: Thomas Basso

February 19, 2020

Banning leveraged and/or inverse fund is a very bad idea. I was a money manager for over 28 years and use leveraged and inverse funds to hedge long stock positions in my IRAs. Without them, my retirement portfolios have no way to easily mitigate risk. This actually increases my risk and takes away my chance to effectively manage my exposures. Bad idea.