July 16, 2020
The mission of the SEC is to protect investors maintain fair, orderly, and efficient markets and facilitate capital formation, and the SEC strives to promote a market environment that is worthy of the public's trust.
However, the proposed changes of the SEC rule regarding the reporting requirement for institutional investment managers creates US financial environment that lacks accountability and transparency. Moreover, the amendment makes it difficult for investors like myself to do due diligence and loose confidence when investing in the proposed financial market. Thus, the SEC instead of promoting a market environment that is worthy of the public's trust makes investors question the purpose of SEC's existence.