July 14, 2020
The main purpose of the SEC is to ensure fair, equitable and transparent markets to protect all investors especially the small investors.
By increasing the threshold of 13F reporting from $100M to $3.5B, the SEC is reducing 90% of institutional transparency which is never a good thing for the small investors.
Given that most institutions are highly automated the compliance costs are minimal and rounding error at best for the larger institutions.
There is also a great disparity in wealth between the rich and poor in our society and the rule change will only increase it.
It is SECs job to ensure that there is full transparency so that the average investor has integrity in the markets, removing transparency has the opposite effect.
The SEC should not cave in to the pressure for increasing the threshold, doing so will in effect result in the foxes looking after the chickens. The consequences of this happening would be devastating to millions of small investors.
I am pleading with SEC to not increase the threshold, please vote it down.
Thank you .
Raj Chhina