Subject: File No. S7-08-20
From: Jose-Carlos Fairlie

July 16, 2020

What's the point of this? Further loss in transparency will put us in a worse place than we are right now. It feels like a move to make smaller cap securities more of a gamble. Please don't allow the US economic system to move further down this path. We should be making investing and investing education more accessible every day, not making it into a Casino.