July 16, 2020
This proposed rule change is preposterous. Reducing the number of reporting firms from 5,283 to 549 will only bring, rightful, public scrutiny to the financial industry. This does nothing to promote transparency and oversight, in fact, this proposed change confirms manys suspicion that the SEC is a spineless puppet of Wall Street instead of a regulatory institution. Unless the SEC wants face the scrutiny and ire of an entire country, not just the industry, I recommend not passing the proposal. Just know that the entire country is watching your decision and we know what motives you have based on your choice.