Aug. 2, 2023
Im conflicted on the rules and reporting changes outlined in this proposal. What effect on the market will be as the result of holders of certain cash-settled derivative securities as beneficial owners of the reference equity securities? It's not clear to me and many others as we don't understand the reason for the change or the affect on the market. In addition, the Proposed Amendments would clarify and affirm the operation of the beneficial ownership reporting rules as applied to two or more persons that form a group under the Securities Exchange Act of 1934, and provide new exemptions to permit such persons to communicate and consult with each other, jointly engage issuers, and execute certain transactions without being subject to regulation as a group. Why would people be able to form a group and not be subject to regulation for certain transactions? Would this allow them to perform transactions without being subjected to regulation? Wouldn't this lead to less transparency? As such, I do not support this proposed rule.