July 16, 2020
While the desire to protect the competitiveness of smaller asset managers is understandable, the proposed change to the 13F reporting threshold will have a profoundly negative impact on public trust of the financial industry and will create an environment that incubates corruption and opacity. The American public benefits from the transparency the professionals with whom they entrust their money. If anything, we should expect our government to increase transparency and accountability in an industry that is so vital and so vulnerable to abuse. I implore the SEC to withdraw S7-08-20.