Subject: File No. S7-08-20
From: Alex Claroni

July 15, 2020

To the SEC:

Are you out of your mind? I thought you were meant to REGULATE our securities. This shouldnt even be debated. KEEP the AUM threshold at $100M in order to maintain the integrity and transparency of data What is done in the dark must be brought to the light - letting billions fly under the radar will increase market volatility in a recession and time when we need stability