Subject: File No. S7-08-20
From: PAUL D WARE

August 1, 2020

I am an individual investor with no affiliation to any investment company or manager.

I am opposed to this proposal because it deters from transparency in usually large stock transactions and
makes information impossible to obtain for the individual
investor.

What is the role of the SEC if not to protect the investor from misdeeds and unscrupulous intended people of huge influence such as money managers? An open and transparent system is favorable to hiding information, which this proposal does.