Subject: File No. S7-08-20
From: Stan Futoma, Futoma
Affiliation: 3809 Landmark Dr

July 14, 2020

Hello,

Please DO NOT CHANGE 13F RULES
Do not change the reporting AUM threshold.

13F helps with trading transparency. As a small retail investor I want to know the large stock holders.

Small investors cannot compete with the large investors in stock analysis, research, and access to information. 13F improves fairness of trading for small investors.

Thanks,
Stan Futoma