Jul. 14, 2020
I am voicing my opposition to S7-08-20. It would reduce the number of funds that disclosed their holdings to the public by almost 90% of all filers. $2.3 trillion in investment holdings would no longer be disclosed to the public resulting in loss of transparency and valuable insight. When Congress first adopted Section 13(f) it did so to “stimulate a higher degree of confidence among all investors in the integrity of [the US] securities markets.” Taking this data away will have the opposite effect. Transparency is what gives investors confidence in US markets. Given the SEC's emphasis on a level fair playing field, this rule change makes no sense. if this passes I will no longer be able to have a career as a full time Stock Trader because I rely on 13(f) info heavily.. I am desperately asking for you not to pass S7-08-20. Thanks, Jason D'Anna