Subject: File No. S7-08-20
From: Sebastian Weilad, Weiland

July 14, 2020

Please don't even think about increasing the reporting threshold. I don't even know how came up with such an idea but if you'd ask me the question: "What could one do to materially decrease what makes the USA a special country?" I would probably propose "Let's decrease transparancy and thus decrease efficiency of capital markets".

You know what? That proposal is so historically wrong, if anything, this threshold probably should be much lower than $100mn.

Thank you