Subject: File No. S7-08-20
From: nancy sinise, sinise
Affiliation: individual

August 6, 2020

As I think about the rule, I am disappointed. the individual investor is very disadvantaged in the market place. Today an IPO came out BIGC that i could not participate in - all of the shares went to institutions. I can not get research reports from most if not all brokerage firms that institutions can obtain as I obviously can not provide the commissions necessary to pay. There was a virtual stock conference several months that many companies participated in, I also could not listen in to this conference.

It seems the plan is - all of us have to hire professional people at 100 BP fees to manage our money. I think this is the wrong approach by the SEC.

This rule is just again limits the information individual investors can see.

I suppose an institution that manages $2B charging 1% (means its making $30M/yr) needs to have its costs reduced just a bit at the expense of retired investors like self.

The SEC should try to empower individual investors I believe.