Subject: File No. S7-24-15
From: Alexander Novikov

April 7, 2020

I am a strong believer in the free market principles as the foundations of a prosperous society. Since I had had plenty of lateral exposure and research on the properties of leveraged and especially inverse funds, but I am not a designated finance professional, I firmly stand against an official body erecting an unjustified barrier to entry for me to protect my portfolio diversified between managed mutual fund and self-directed investments against possible structural problems with the prevailing consensus view of the day.