Subject: File No. S7-08-20
From: Stephanie Stears

July 23, 2020

Jay Clayton, please do not raise the amount that hedge funds have to report up to $3 billion that does not help anyone and specially the retail investor. This is so sad what youre doing to the regular investor. People need to know what people are buying and trading. Its only fair. It does not cost them that much money. They should have to report their amounts because they can swing the markets when theyre doing those big trades. Do you understand? Or are you so wealthy you dont care? or are these big hedge funds wanting to hide their trades so they can move the market on their own?
Have compassion for people that are really working hard and trying to make a difference in their life.