April 20, 2022
To whom it may concern,
The proposal above is extremely short-sighted and will only serve to further alienate a rapidly expanding base of retail investors from US markets. Whether the large Wall Street firms/other financial intermediaries that lobby for rules such as this like it or not there is a growing number of independent investors both within the US and outside that are becoming more financially literate. The fact is that rule proposals such as this that serve to make financial markets less transparent will no longer be accepted without a significant loss of trust in the institutions that regulate the market such as the SEC.
Retail investors such as myself make financial decisions based on publicly available information in an effort to improve our circumstances and to attempt to try and get ahead in life. When the SEC takes such a clear stance as this it shows that you are on the side of those that are already at an insurmountable advantage and it is extremely disheartening to see. How long before a significant portion of the American/International community withdraw their capital from your markets and seek other ways to grow their capital in a fair and equitable alternative? To that view I strongly implore the SEC to discard this proposal so that it can demonstrate to its tax-paying country men and supportive international investors.
We want more transparency and more fairness. Bad actors are ruining the financial future of America.