June 27, 2023
This rule sounds like it would deem(whatever that means) holders of derivative financial products for a certain ticker to be beneficial owners of the securities that the derivative is associated with. This would dilute the value of all securities for that ticker, as part of the value of holding a security is having beneficial ownership of the company you are investing in. This beneficial ownership comes with perks like voting rights, dividends, etc. derivative holders need to purchase the underlying securities to have voting rights for them. It makes zero fiscal sense otherwise.