Subject: File No. S7-08-20
From: June P Pecchia
Affiliation: M.Ed.

August 17, 2020

WRONG. More disclosure is needed, not less. Investors and the general public need protection from too many unscrupulous financial "experts" who abuse their power. DO NOT PASS S7-08-20.

Instead, improve the existing disclosure to require institutional investors to disclose their debt holdings or short positions.