July 24, 2020
Increasing the reporting threshold will lead to substantially lower transparency, higher corruption opportunities, less accountability, more unreported insider trading, and minimal checks and balances in the biggest financial capital markets which are the envy of the world.
This will directly result in, the mainstream losing confidence in the markets, higher income inequality, more social unrest, more chaos and financial scandals than ever, and the perpetual downfall of the best capital market in the world. Without these efficient, transparent, capital markets Americas best days would be behind her and not as Warren Buffet often quoted Americas best days lie ahead .
By making the proposed change is the SEC prepared to accept the collateral damage as outlined above for the minuscule savings that the SEC is using to justify this proposal, which is merely rounding error at best for most of the reporting funds.
To put it bluntly and in plain English the SEC SHOULD NEVER FORGET THAT ITS PURPOSE IS TO, PROTECT THE MASSES AND NOT RICH ASSES, AND TO NOT LET THE FOXES LOOK AFTER THE CHICKENS.