Subject: File No. S7-08-20
From: Rob Schonhoff, PA-C

July 16, 2020

The unprecedented and sustained forward march of market is due in large part to retail and at-home investors driving market demand and rewarding good business practices. Reducing transparency will end that trend. Non-forward-thinking investment managers can't keep up or innovate, so they take their millions of dollars to lobby congress to rig the game in their favor. This is anti-American and anti-capitalist. Keep the markets fair and transparent. Reject this proposal.