July 14, 2020
I urge the SEC to carefully consider this proposal. In my opinion, this is not the type of transparency that the US needs right now. Raising the reporting threshold to such a high number will result in the following:
— Reduce public companies' opportunity to know more about who their shareholders are.
—Increase the possibility of fraud and insider trading
—Decrease transparency and valuable insight
Many managers are known to talk among themselves, sharing ideas and information. They have access to company management that small investors don't. Given the SEC's emphasis on a level fair playing field, this rule change makes no sense.
For an example: Please review the following article by Forbes: Billionaire Bill Ackman Made 100-Fold Return On Coronavirus Hedge That Yielded $2.6 Billion
I suggest a counter proposal of raising reporting limits in line with the Bureau of Labor Statistics CPI figures.
Concerned citizen and tax payer,
Kyle Tatchell P.E.