Jun. 26, 2023
Hello, I am a household investor of stocks that are traded on US exchanges and I am mortified by what is happening. Please consider the below, thank you. Express that amendments are crucial for enhancing transparency in stock ownership and providing a clearer view of market dynamics. You appreciate the efforts made by the SEC to identify major shareholders and potential conflicts of interest, promoting a more accountable financial system. You encourage the adoption of structured, machine-readable data language for filing Schedules 13D and 13G, as it ensures efficient and standardized reporting. Rule S7-06-22 can bring much-needed transparency to hedge funds' short positions, which is essential for a fair and free market if implemented correctly. Express your concern about the potential dilution of voting power for actual shareholders if cash settled derivatives owners are considered beneficial shareholders. Emphasize the need for clear guidelines to avoid confusion and unintended consequences. Advocate for the protection of voting rights and ensuring that votes of actual shareholders carry meaningful weight. Highlight the importance of transparency without compromising fairness. Request that the Securities and Exchange Commission addresses these concerns and prioritizes the protection of shareholder rights in the final rule. Timely reporting of short position changes prevents hidden accumulations and ensures that market information remains up-to-date. Enhanced oversight through structured data enables better monitoring and identification of potential risks, leading to necessary regulatory actions and maintaining market integrity. Transparency and reporting requirements act as a deterrent against coordinated actions aimed at suppressing stock prices, ensuring a level playing field for all market participants. The adoption of this rule fosters fair competition, preventing unfair advantages for specific market participants and contributing to a more level and equitable market. You hope that these changes will lead to a more efficient and accountable financial system, ultimately benefiting investors and the overall health of the market. Conclusion: Increased transparency, timely reporting, enhanced oversight, deterrence against manipulation, and a level playing field are crucial for market integrity. Urgent adoption and enforcement of the rule for the benefit of all investors and the market's overall health.