July 14, 2020
I am opposed to this change for the following reasons:
1. New and existing investors will not have access to intelligent information to help them make informed decisions. Don't we want more people investing in the market ? This change will reduce the number of private individual investors.
2. The Institutional Investment Managers who fall exempt to reporting will suffer inaccuracies resulting from their exemption since they will not have to scrutinize their activities to the same degree as if they were still reporting. Reporting acts as an audit where mistakes are often gleaned. These mistakes can result in press coverage that cause loss of confidence in Institutional Investing and the Market.
3. I review Institutional Investment holdings periodically to determine whether my retirement funds are invested as well as they could be. The elimination of this compass could result in retirees running out of funds.
Thanks for your efforts to keep Markets honest, dependable and worthy of our trust. Integrity is everything in investing confidence.
Regards,
John B Hall III