Subject: File No. S7-08-20
From: Sagar R Joshi
Affiliation: AICPA

July 16, 2020

This proposed ruling decreases transparency which is, in my professional opinion, they sole reason there is trust in the American Stock Exchange.

If you want to pave the way to becoming like China, this is how you do it.

This is a bad idea. 3.5B Threshold is ludicrous. There are many funds out there that will not have to report anything and that is how corruption starts (not that we already don't have problems with under reporting or non compliance).