October 19, 2018
I am a member of a group called the Main Street Investors Coalition. This group shined a light on a lot of these strange and antiquated practices that we have been involved in over the years and they make some really good points that I think the SEC should consider:
Money managers should be focusing on the performance of holdings and not playing politics with my money
Letting retail investors have a say in how their fund managers vote on proxies
Regulating third party black box proxy advisory firms. These are research firms and should be regulated as such.
Making sure that public pension funds have same reporting requirements as private pension funds
I am buying mutual funds and ETFs that dont give me a say on how they vote which may affect MY returns. As a nurse who works hard to save money for investing, I believe this is unfair and I hope that the SEC will look to reform this antiquated and undemocratic system.