Subject: File No. S7-08-20
From: Roby Shay

July 17, 2020

This move would further enable large money manager to manipulate markets hurting small investors. Large market makers routinely manipulate the market for smaller capitalized companies. Transparency into what positions these large firms are holding in these small companies is a key to create a fair market for all participants and for the market to accurately reflect the fundamentals of the underlying security/company.