July 16, 2020
The changes for reporting would be catastrophic to enabling the voting public and retail investors to retain any kind of faith or trust in the US economy.
By raising the threshold to such an outrageous amount, almost 90% of the current 13F filers would be exempt from disclosing their holdings to the public. Time and time again we've seen that no profit-oriented corporation will do anything "out of the goodness of their heart", it is only through legal regulation that these corporations can be held in check.
A loss of transparency of this magnitude will inevitably cause the SEC's workload to become a thousand times more, due to rampant market manipulation and insider trading done by firms holding 100's of millions in capital. For every firm that no longer is required to disclose, the only individuals who will benefit are the institutional investors who receive information through backdoor channels, the lobbyists who are getting paid by the corporations to further decrease transparency regulations, and the government officials who will almost certainly use their investment holdings in these companies to continue shaping government policy, increasing their personal profits and nepotism, at the expense of regular working-class citizens.
I can't believe even the SEC is going so far backwards, but with how the rest of the Trump administration has aimed at ensuring all transparency throughout the government is eliminated, I can't say I am surprised by it. US people and citizens no longer hold any rights or sway in this country, it's only the corporations that are deemed US Persons that seem to be able to make active changes to policy, and at all of our expense.