July 16, 2020
When Congress first adopted Section 13(f) it did so to stimulate a higher degree of confidence among all investors in the integrity of the US securities markets. Taking this data away will have the opposite effect. Transparency is what gives investors confidence in US markets. Raising the reporting threshold to such a high number will reduce public companies' opportunity to know more about who their shareholders are.
The SEC should be pushing for more disclosure and transparency and not rolling back existing rules. This can only hurt small traders/investors and provides little or no benefit or savings.