July 27, 2020
Dear SEC,
The Reporting Threshold for Institutional Investment Managers, File No: S7-08-20 proposes to remove the current transparency by raising the reporting limit from $100M to $3.5B. As commonly known investment managers are known to talk among themselves, sharing ideas and information and have access to company management that small investors like me and many others simply can't access nor benefit. My understanding is that the SEC supports a level playing field for all especially when you factor in the dark pool, automated trading and many other tools we as small investors just don't have.
The $100M threshold is already a very high number in anybody's book even Warren Buffet's. This rule change makes no sense and I urge you to drop it entirely or at least keep the $100M threshold.
Thanks,
Small Investor Who Depends on Investments for Our Retirement,
Robert Gilbert