Jan. 14, 2020
Jay Clayton Chairman Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-0609 January 14, 2020 S7-22-19 Dear Mr. Clayton, I wholeheartedly support the Security and Exchange Commission’s rules to tighten up how proxy advisory firms influence investment decisions affecting people’s savings for retirement, education and other needs. Like many Americans, my wife and I contribute to 401(k) plans for retirement and 529(b) plans for our three daughters’ education. I rely on experts to put us on a steady growth path for the long term, with the right balance of risk as our circumstances change. Also, like many Americans I do not monitor every shift within the funds our money is invested in but trust the experts to go for the highest growth possible. With it increasingly common for financial professionals to be influenced or even required to carry out directives from shareholders focused on environmental causes, social equality and other pet concerns, the SEC is without a doubt charting a necessary path of corrective action to help ensure positive investment returns for hardworking Americans. Plainly stated, before financial advisors or investment funds can accept my money with the premise of growing it over time, commonsense would say that they and any agent of their business, should work to produce the greatest returns on my investment. Not use my money to push ideological causes. People are free to invest their money any way they like. I choose to allocate money in a variety of funds with an eye toward maximum growth. If I adjust how I allocate our family’s investments, I will work with a financial planning professional I know and trust. I oppose having my financial standing impacted by advisory firms, shareholder activists, and political groups who have operated without accountability. It was high time for the SEC to regulate these activities and better protect investors like me. Thank for you recording my views on this subject, Brian Rooks