Subject: File No. S7-08-20
From: Hubert S Olis
Affiliation: none

July 30, 2020

I do not think we should be changing the threshold for reporting by individual investment managers. These managers have the ability to move markets with their buying or selling of a particular security due to the vast sums of money they have under their control. The public has a right to know when they are moving the market for a given stock. I strongly urge you to not change this reporting of transactions by changing this rule.
Thank you,
Hubert Olis