Subject: File No. S7-08-20
From: Val Stokes, Stokes

July 27, 2020

Upping the threshold to 3.5 Billion is obviously being driven by politics, and/or backroom buddy pleasing. It cannot be for any other reason. This is a BAD idea, and does the exact opposite of what the SEC is saying it's all about - increasing transparency. Don't make this change