July 14, 2020
More transparency, not Less, is what's needed. As someone that has invested through a fund manager, there is always a concern over whether anything irregular is occurring and if my investment is safe. Changing this threshold seems to be direct conflict with what is best for the common retail investor. Nearly 5300 funds report today, once this changes, only 550 will report. How is this a good thing?
All of these Funds charge 2/20 type fees, they can afford to comply with these regulations, as a small business owner myself, I can certainly see the need to deregulate, but some things are important and necessary to prevent massive fraud. This certainly is important to keep.
Thank you for your consideration.
Jack Morawski