Jun. 25, 2023
Derivative holders, cash settled or otherwise, should NOT receive voting rights. This is abominable! If derivative holders are given voting rights they will gain an incentive to engage in manipulation around the time of shareholder voting events just to influence the voting in their favor by creating “temporary” derivatives. As simple as that. It is unbelievable that such a rule is being proposed at the time Gary Gensler is the SEC chair.