Subject: File No. S7-08-20
From: Frank Listwan

July 23, 2020

Ms. Vanessa Countryman
Secretary
Security and Exchange Commission
100 F Street N E
Washington, D. C.
20549-0609
In reference to S7-08-20.
I am opposed to any changes to the original regulation on this matter.
Doing any changes to the original regulation will lead to less transparency
For the small investor.

Frank Listwan