Jun. 25, 2023
To Whom it May Concern, This rule is a terrible idea. The stockholder voting process in America is ready disgustingly damaged by the rampant short selling, legalised naked shorting by Market Maker's, and continuous Failure to Deliver of shares by institutions. Granting derivative holders the right to vote on corporate affairs, where actual shareholders get trimmed out as it is because of endless shorting, is not only a terrible idea, it's malicious. This will damage, if not outright destroy, perfectly viable companies. Short sellers will buy up derivatives for pennies on the dollar of the shares value, vote against good corporate policy, dump the derivatives and short harder than ever. This will open the door to ever more disgusting cellar boxing. What's even more disappointing, from my perspective, is the fact that the SEC proposed legislation in 2010 to curtail this proxy-plumbing nightmare and grant shareholders, actual OWNERS of the company, more secure rights. But no. The SEC can't seem to remain impartial and do it's job. Otherwise it might remember that Citadel Securities is both a market maker and hedge fund, just like the centralised crypto exchanges Chair Gensler speaks out against. Oh and they control most of the US markets order flow. But hey! Let's keep pretending the US markets aren't a giant fruad to steal from the american people! Get it together. Stop this. Now.