Jun. 27, 2023
Dear Regulators, I sent an email regarding rule S7-06-22 yesterday which, in no uncertain terms, outlined my disgust at the notion of derivative positions gaining beneficial ownership status and thus inheriting voter rights. I still emphatically maintain that position. However, I feel the underlying principle being suggested by this rule is sound. That is, I believe forcing options and derivative positions (including swaps!) Must be reported. These positions can have a serious impact on the price discovery of a stock while the true fundamental supply and demand of the stock is obscured behind said derivatives. Enshrine into law the outright denial of shareholder privileges, including voting rights, to owners of derivative positions including options and swaps, and enforce the reporting requirements outlined as stated in this rule. This will create a safer, more transparent, fairer market for all participants. This will help avoid another Archegos or Volkswagen short squeeze situation. No derivative voter rights, yes to derivative reporting. Dismantle the CFTC and FINRA while you're at it. They're complicit in the fraud, as evidenced by CFTC delaying swap reporting and FINRA turning a blind eye to the MMTLP fraud. Regards, A household investor