Subject: File No. S7-08-20
From: Grant Nice
Affiliation: Small Investor

July 29, 2020

I am opposed to this regulation. I rely on small institutional investors for reliable guidance on the equities market. If you raise the threshold, most of those experts on whom I rely will become opaque. We need more disclosure, not less. I urge you to reject this proposal.

Thank you for your consideration.

Grant Nice