Subject: File No. 265-31
From: Brandon Shapiro
Affiliation:

Jan. 25, 2019

To whom it may concern,

I believe the idea to limit the ability for retail investors to invest 
in "dark stocks" a bad one.  First, any investor looking to invest in a 
dark stock is certainly going into it with their eyes open.  Dark stocks 
present an opportunity for small investors to find value.

Often many dark stocks report more and better information to investors 
than active SEC reporting companies. Of course there are frauds in this 
area of investing, the SEC should focus on punishing these frauds and 
not punishing all the other companies who are dark for legitimate 
reasons not nefarious reason.

Kind regards,
Brandon Shapiro