January 24, 2020
The Honorable Jay Clayton
Chairman
Securities and Exchange Commission
100 F Street NE
Washington, DC 20549
Vanessa A. Countryman
Secretary, Securities and Exchange Commission
100 F Street NE
Washington, DC 20549-1090
Re: Comments on Proposed Amendments to Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8 (File No: S7-23-19)
Dear Chairman Clayton and Secretary Countryman:
I am writing to oppose proposed amendments to procedural requirements and resubmission thresholds under Exchange Act Rule.
The proposed changes in this rule are unnecessary and will, in fact, harm corporations by further insulating them from the concerns of their smaller shareholders. The slight inconvenience experienced by executives and their staff is a small price to pay. The benefit of the present, slightly less restrictive rule is that executives encounter the concerns of their grass root shareholders at least annually. These concerns may be early warnings of developing attitudes that will come to significantly alter a business's prospects if neglected.
I urge you to leave the current regulation unchanged.
Sincerely,
Ralph Jones