Subject: File Number S7-08-20
From: Eligio Materan
Affiliation:

Jul. 27, 2020

I oppose this rule change. 
The issue of transparency and a level field for all investors is being defeated by this rule. 
Now we can see the reporting of over 5000 institutional and large investors and with the 
new rule the number of investors required to report drops to less than 600. 
How will that help transparency? 
Kindly, Eligio Materan 
Small investor.