July 14, 2020
Strongly against this proposal Small investors are facing unfair competition against large institutional investors as they have significant more resources to access many industry research houses or data providers, and more importantly, they have access to top executive officers' time when they visit a listed company, while for small investors like me, many emails to Investor Relation are not responded at all this is never a fair game, so 13F is an important source for us to understand how and when those large investors are trading, long time after they have executed those orders. If SEC thinks it's a big burden to compile the form, then we demand a quantitative and thorough investigation so people can have a better informed picture of the relative burden for relative small institutional investors. Without the due course, we can't just accept $3.5bn threshold, which effectively remove 90% of reporting persons from the obligation to disclose critical information for public interest.