Subject: File No. S7-08-20
From: paul a werlin
Affiliation: CEO, Human Capital Resources, Inc.

July 17, 2020

I'm am totally opposed to this proposal. The markets need more transparency, not less. The small investor has been systematically edged out of the markets in many ways, most notably by high-velocity traders and hedge funds. Raising the reporting limits will again put small investors at a disadvantage. Please do not raise change these requirements.