Subject: File No. S7-08-20
From: Peter Bergquist

July 30, 2020

I have been investing for over 20 years and I use institutional investor information to understand the market. I think raising the institutional reporting limit to 3.5 billion wood disadvantage the retail Trader and hurt to your overall investment Market. The retail investor is already at a major disadvantage and this would make things worse. I would recommend the reporting limits remain the same as they are.