April 1, 2009
Re File#4-483 Request for Rulemaking under Section 12 (g)(5) of the SEC Act
I have been in the investment business for 50 years and often have owned shares of smaller companies that do not file reports with the SEC because of their self-serving definition of 300 or more holders. Such companies lump together all beneficial owners of securities registered in the name of a broker as only one holder. This incorrectly allows them not to disseminate adequate information about corporate affairs to interested shareholders and is wrong. The definition of "held of record" should include all beneficial owners that are registered in the name of a broker, dealer, bank or similar nominee. I would appreciate the SEC taking the necessary action to correct this loophole.
Robert J. Schweich