July 16, 2020
If this is passed, $2.3 trillion in investment holdings would no longer be disclosed to the public resulting in loss of transparency and valuable insight. When Congress first adopted Section 13(f) it did so to stimulate a higher degree of confidence among all investors in the integrity of the US securities markets. Taking this data away will have the opposite effect. Transparency is what gives investors confidence in US markets.
If we remove the transparency, we erode the bedrock of our entire system.
We need to keep this rule in place. Perhaps peg it to inflation now (at the $100 million mark), but with the proliferation of funds that abound, this rule definitely doesn't need to be changed to $3.4 billion.