July 14, 2020
I think your logic concerning the desire to return to the same percentage of filings of 1975 is flawed. The stock market has changed tremendously since then. The gradual increase in percentage of filings over the years is a good thing and has made the markets more transparent. There are many small investors who rely on this information. This burden, as you call it, has been assumed since 1975, and is part of the cost manager operations. Who will profit from this reduction in the cost of filings? Will it be the small investors? No,it will profit only managers. The reduction of costs to the investor, if there are any that trickels down, will never compensate for the information lost to small investors.
I think removing this filing information for small investors will leave them blind and remove their ability to invest wisely. We are small market participants and I understand that there are issues, such a front running, that are a problem, but fixing this issue should not be done by sacrificing small investors.