Subject: File No. S7-08-20
From: Eric Shen
Affiliation: Association of Professional Accountants

July 14, 2020

In financial history, each time easing governmence leads to a financial crisis. We can not afford to do this again. It is not easy to increase the transparency and rules on wall street fund managers. We need to protect this instead of going backward. In the long term it surely poses a threat to the economy.