July 16, 2020
I disagree with the justification on this rule change and believe it to be very dangerous to investors. This rule change takes away transparency and provides less data which will lead to hurting smaller investors. This change is extremely corrupt and it is honestly despicable this is even up for debate. My job consists of a ton of paperwork and filing for the government and do I like it? No, i really don't. But the filing I do is imperative that my company remains transparent and follows all rules and regulations. Inconvenience isn't an excuse to adjust the rules and regulations put in place. This is a part of their job and they have the duty to remain open and transparent. Optimizing or modernizing the method of how these managers get their data would be a smart move but raising the threshold which in turn takes away available data and transparency is taking one step forwards and fifty backwards. This benefits managers and hurts investors because filing the form is inconvenient. This will allow for managers to move behind the scenes while manipulating the market and increasing the corrupt methods they already practice while not reporting it. Please take in to consideration the whole picture and everyone involved and not just these managers. Going through with this exact proposal will lead to very negative consequences and this will not reflect well on the SEC. Transparency is on the line and I wouldn't want to go down in history as someone who opposes that and as someone who turned their back on smaller investors while these managers and their company's line their already filled pockets. Thanks for taking the time to read this. Stay safe, take care, and do what's right.