Subject: File No. S7-08-20
From: Thomas Dvorak

July 16, 2020

These rules are a terrible idea, as they give less information to smaller investors. I'm a small investor with a portfolio less than $1000. Information is the only way I'm able to grow my portfolio, and with less information by these proposed rules I stand the risk of losing everything by larger investors and investment firms. Raising the threshold for reporting will destroy my portfolio, and other smaller investors' portfolios.