Subject: File No. S7-08-20
From: Matthew Egan

July 24, 2020

I urge you to reconsider this motion as it is a detriment to the transparency that makes the US stock market the best in the world. The proposed threshold is far too high and now will allow for many hedge funds not to disclose positions. It is imperative to the health of a stock market to have as much transparency as possible, please consider lowering the $3.5B threshold lower than it currently is set. Thank you.