Apr. 12, 2023
Dear Securities and Exchange Commission, I am writing to express my concern regarding the recent rule change that you have implemented without allowing for public comment. This decision is not only undemocratic, but it also goes against the fundamental principles of transparency and fairness that should guide regulatory agencies like yours. The public comment process is an essential component of the rulemaking process. It allows for a diverse range of voices to be heard, including those who may be affected by the rule change. By bypassing this process, you are denying the public the opportunity to provide valuable feedback and input, which is crucial for ensuring that regulations are effective and fair. Furthermore, the lack of transparency in this decision-making process undermines the credibility and legitimacy of the SEC. It creates the perception that the agency is not acting in the public interest, but rather in the interest of powerful corporations or other special interests. As a regulatory agency entrusted with protecting investors and ensuring the stability of financial markets, it is imperative that the SEC operates with transparency, accountability, and integrity. The public comment process is a critical component of this responsibility, and it should not be circumvented. I urge you to reconsider your decision and allow for public comment on the rule change. Doing so will demonstrate your commitment to democratic principles and ensure that the SEC's actions are guided by the input and concerns of the public. Thank you for your attention to this matter. Sincerely, George Steele