Subject: File No. S7-08-20
From: David C Wall
Affiliation: Retired

August 6, 2020


The new rule proposal that the $100 million threshold for 13F reporting be raised to $3.5 billion Will result in less transparency. It will deny the common man from seeing what professional money managers are doing. Resulting in more insider information and deals the general public are denied.

I urge you not to implement this rule change.