February 21, 2022
Dear Securities and Exchange Commission,
I am writing to you in support of the proposed amendments for the Modernization of Beneficial Ownership Reporting in release number S7-06-22.
As a concerned citizen, I believe that the proposed changes to reduce 13D-G filing deadlines, expand the scope of 13D-G Regulation to include certain derivative securities, clarify group formation, and provide for machine-readable filings would impose an inconsequential, if even measurable, cost to investors beneficially owning more than 5% of a covered asset class while providing significant benefits for retail investors, particularly those saving for retirement, education, et al. through beneficially-owned assets.
While I believe all the changes proposed within this amendment (S7-06-22), provide benefits for retail investors, it is my understanding that reducing the filing deadlines and providing machine-readable filings will have the greatest impact. Reducing the filing deadlines will provide more confidence to retail investors that their assets are actually secured on their behalf by the beneficial owner with whom they have placed significant trust. Machine-readable filings will allow the SEC to make use of advancing technologies in order to reduce costs to tax-payers and more speedily provide the public with the information it needs to accurately assess the conditions of the market.
Thank you,
J