Subject: File Number S7-08-20
From: WILLIAM OBRIEN
Affiliation:

Jul. 28, 2020

Dear Sir: 


I am opposed to amending rule 13f-1 and Form 13F that would raise the reporting threshold from $100 million to $3.5 billion. I believe it is important that the information reported on Form 13F becomes publicly available upon filing. Information should be more transparent, not less. Many managers are known to talk among themselves, sharing ideas and information. They have access to company management that small investors don’t. 



Sincerely 
William O'Brien