Subject: File No. S7-08-20
From: Walter L. Godek, Jr

July 14, 2020

I believe that this rule change is incongruent with the intent of this regulation. In effect many, many funds would not be required to disclose holdings which are the basis for assessing their investment worthiness and sector exposures. This drastically impacts decision making of the retail investor. WE NEED MORE transparency NOT LESS Thank you for your time in assessing my comment.