July 14, 2020
Implementation would reduce transparency in the markets and thus investor confidence. Investment holdings for a marked number of funds would no longer be disclosed to the public resulting in loss of transparency and valuable insight. A purpose of Congressional Section 13(f) was 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. This rule change makes it much more difficult for the individual investor to trust the markets and more importantly trust the system.