Subject: File No. S7-08-20
From: John Thompson
Affiliation: CEO

July 27, 2020

The proposal to change the new reporting rules (13F) to $3.5B creates an issue for investors and eliminates transparency rather than adding to it. The threshold for reporting should be lower or remain the same so entire market can see what his happening here. I would as you to consider NOT implementing the new rule. Thank you for your consideration.

John
Thompson