June 26, 2023
Dear Securities and Exchange Commission,
I am writing to provide my comments for the proposed rule S7-06-22. The rule aims to modernize beneficial ownership reporting and enhance transparency and fairness in our financial markets.
I want to begin with showing my support with the proposed rule. In my opinion the amendments enhance transparency in stock ownership, identify major shareholders, and address potential conflicts of interest.
I highly agree with the use of structured, machine-readable data language for efficient reporting. This will enhance data quality and make it easier for household investors make the right decisions.
It is very important that this rule brings more transparency to short positions in the market. More transparency would lead to less excesses and generally reduce risks.
Short position reporting prevents hidden accumulations and provides up-to-date market information, which benefits all participants.
The rules also aim to enable better risk monitoring and regulatory oversight.
The changes will lead to more competition, prevent unfair advantages.
I believe these efforts aim to create a more efficient, transparent, and equitable market. Therefore I support the amendments.
Thank you for your attention to this matter. I trust that you will carefully consider the importance of transparency, fairness, and the preservation of shareholder rights in our financial system.
Sincerely,
Rick Montana