June 25, 2023
Hello,
I am commenting to vehemently oppose the proposed rule to allow voting based on derivatives.
Voting is a privilege, one that belongs to shareholders of a company. Its simply in the name: shareholder. Are entities who are future alleged shareholders shareholders? No. Are entities who hold an IOU instead of a true certificate shareholders? No.
This would set a dangerous precedent, and this must be stopped at all costs. Entities with ill intentions to a company could procure a large stake via derivatives and vote board members out or in. Imagine trying to do anything else this way. Ah, Im surely going to win the lottery and be a future millionaire, so allow me to buy this yacht. Ah, well, Im not a citizen of the country yet, but I will be, so allow me to vote on government officials now.
Its completely unacceptable, full stop. This must be shut down with all expediency, never to be reopened again.