Subject: File No. S7-08-20
From: Carolyn D EArle

August 3, 2020

the current reporting of companies totaling 100 million for reporting transactions to the SEC should remain. If you are wanting to retain transparency for all investors the cap should NOT be increased to 3.5 billion.

This change is doing just the opposite of maintaining transparency. It does not accomplish your goal or help the many small investors.

For the protection of millions of investors
PLEASE DO NOT CHANGE THIS REQUIREMENT .
Thank you
Carolyn Earle