August 23, 2020
I am writing to convey my opposition to increasing the reporting threshold for institutional investment managers. The information currently made publicly available with the 13F reporting requirements for managers of funds between $100M and $3.5B is valuable information for investment managers of all sizes, and to individual investors, and more importantly, keeps the market itself more transparent in aggregate. To no longer require reporting of activity for funds below $3.5B introduces an opaqueness to our markets that does not serve anyone well. As our markets, and trading itself, become more complex with the evolution of technology and financial instruments, we need more transparency of information, not less.