Subject: File No. S7-24-15
From: John Wallace

March 4, 2020

Your new rules will put my portfolio at risk. Leveraged and inverse ETFs are crucial for diversifying and hedging my portfolio. My strategies also rely on those funds being liquid. Without leveraged and inverse ETFs I am much more vulnerable to directional market risk.

Do us all a favor and stop trying to protect us from ourselves. Just provide a fair marketplace and stay out of our way.