Subject: File No. S7-20-21
From: Maria Palacios

December 15, 2021

As an individual investor, I approve of this proposed rule to improve related transparency around insider transactions in company securities. The new rule would offer small investors confidence in the markets, making them truly fair to all. Insider trading opens the door to fraud and manipulation, so I think that anyone who opposes this proposed rule doesnt have the best interest of small/retail investors in mind.
Thank you for your time.