June 25, 2023
Dear SEC,
This proposed rule appears to permit holders of derivatives to vote shares as though they were bona fide shareholders. Investor confidence is already suffering due to rampant, high profile manipulation of asset prices by powerful players via the derivative markets, and now it appears they will also have the power to sabotage any companies they are trying to destroy with their manipulation. Aside from that, it simply isn't fair to put long positions in any category with the gambling products that most derivatives truly are.
Why would anyone who has a choice invest in US markets under these terms? I will certainly be telling everyone I know that the SEC appears to be moving in the opposite direction of giving a voice to individual investors and instead promoting absolute power for financial institutions, hedge funds, and the very wealthy.
Regards,
GW