Aug. 10, 2023
Dear SEC, I support an increase in transparency of the stock market via an expedited disclosure timeline (I believe "same-day" is possible and should be implemented ASAP), but I strongly disapprove of the amendment granting ANY derivative positions beneficial ownership rights. A derivative position is just that-- derivative. Ownership rights should be exclusively for the owners of shares. A short position for instance is not ownership under any sense of the word as it necessarily entails borrowing a share that you do not own. Likewise, options are merely contractual obligations and swaps are mutually lent to either party. None of these derivative positions are ownership of the underlying reference stock, and therefore any investor who is long on a stock should retain the sole right to beneficial ownership. I strongly encourage the SEC remove this aspect of the proposed amendment. Thank you kindly.