Jul. 14, 2020
Sent from my iPhone > On Jul 14, 2020, at 5:10 PM, Raj Chhina <rajchhina55@icloud.com> wrote: > > From Raj Chhina > > The main purpose of the SEC is to ensure fair, equitable and transparent markets to protect all investors especially the small investors. > By increasing the threshold of 13F reporting from $100M to $3.5B, the SEC is reducing 90% of institutional transparency which is never a good thing for the small investors. > Given that most institutions are highly automated the compliance costs are minimal and rounding error at best for the larger institutions. > There is also a great disparity in wealth between the rich and poor in our society and the rule change will only increase it. > It is SEC’s job to ensure that there is full transparency so that the average investor has integrity in the markets, removing transparency has the opposite effect. > The SEC should not cave in to the pressure for increasing the threshold, doing so will in effect result in “the foxes looking after the chickens” . The consequences of this happening would be devastating to millions of small investors. > I am pleading with SEC to not increase the threshold, please vote it down. > Thank you . > Raj Chhina