Subject: File No. S7-08-20
From: Brandon Derke

July 16, 2020

This proposed change appears to be highly irresponsible by an agency whose responsibility should be to push for transparency. This change would reduce the number of managers required to file by an extremely amount and hide the activities of trillions of dollars of assets. It is not in the interest of anyone to allow for less transparency when it comes to investments and financial vehicles. Please do not pass this proposal.