Aug. 10, 2023
To whom it may concern, America, and the western world as a whole has lost all sense of ownership, property rights, and sovereignty. Beneficial ownership creates more uncertainty, and too much grey area in our markets. Who truly owns securities when institutions who have lent, borrowed, short sold, and invested in derivatives of securities are allowed beneficial ownership? Allowing beneficial ownership dilutes the voting power of true shareholders of company stock. An investor, individual, institutional, or otherwise, does not deserve the same voting power if they do not own the securities outright. Betting on stocks should not grant beneficial ownership until those bets are realized, and investors actually own shares of that stock. Markets will operate more efficiently, and honestly if voting rights are left to the shareholders long on their investment. Company voting rights belong to investors, not gamblers. Thank you for considering my comment, and your service as a regulatory agency of the United States of America. Sincerely, Calvin Satterfield