July 16, 2020
The proposed rule S7-08-20, increasing the reporting threshold from $100 million to $3.5 billion only decreases the transparency into the financial markets and decreases investor confidence. This due to the fact that almost 90% of all current filers would no longer be required to file. If anything the reporting threshold should be decreased to $10 million, increasing transparency only increases confidence in out markets as the information is all publically disclosed and legally enforced. If this passes we will be on par with china in the ability for firms to manipulate the markets with no disclosure. Which will cripple confidence in our markets and economy as a whole.
Reconsider the mistake of increasing the reporting threshold, decrease it instead.