August 3, 2020
As an individual investor I'm feel STRONGLY against this rule change. As individual investors we need all the information we can get to make informed decisions on how we invest our money.
Its not just a matter of seeing which, top or exceptional, individual money managers bought and sold stock. Knowing if institutions are collectively buying or selling certain stocks is important information – and its also useful information for companies to know who their shareholders are as well.
The strange thing is that the SEC claims it wants to increase transparency in the market, yet this rule will do exactly the opposite
It will hide the transactions and holdings of all but the very largest of institutions, keeping average investors in the dark about what the smart money is buying and selling.
Many managers are known to talk among themselves, sharing ideas and information. They have access to company management that small investors don't.
Given the SECs emphasis on a level fair playing field, for the average investor, this rule change makes no sense at all.
In my research, Goldman Sachs thinks its a bad proposal, confirming, MORE information is better than less, it said.
Even one of your Commissioners has come out against this change, Mr. Allison Herren Lee stated, This proposal joins a long list of recent actions that DECREASE transparency and reduce both the Commissions and the publics access to information about our markets.
PLEASE reject this rule change and continue making rules that promote more transparency not less.
Thank you for your consideration in this matter