Subject: File No. S7-24-15
From: Peter Trofimenko

March 10, 2020

I would strongly advise against limiting investors' ability to invest in inverse and leverage funds. These funds are very important to both investors and free markets in general. They provide a very valuable mechanism of enhancing investor returns and injecting liquidity in financial markets. Investors are not dumb. Investors risk their own money and do not want to have a third party telling them what they can or cannot do. The third party has no place in evaluating investors' abilities to understand various funds, including leveraged and inverse ones. Moreover, no third party should have any place in preventing investors from trading in these funds. Freedom of trading is fundamental to functioning of free public markets. Government-imposed limitations go against core values of the free market economy. Such limitations/restrictions would hurt not only capital markets but will have overall long term negative consequences for freedom of capital movement and the economy in general. Please do not overregulate. Whenever governments mess with financial markets and market economies, results are always dismal: leading to stifling initiative, limiting freedom of capital movements, making financial markets less flexible and thus more vulnerable to various shocks, both internal and exogenous. Government interference ultimately leads to lower growth rates as well as much wider negative social and economic implications. Thank you.