Subject: File No. S7-08-20
From: Luke Taffuri

July 22, 2020

Hi,

I think that this rule makes investments less transparent and hurts retail investors like myself. If you want to raise the threshold it should based on inflation, not stock markets gains. That would be closer to $400 Million based on when the rule was created.

Please do not do this, it seems like a bad idea and does not make any sense.

Luke