July 16, 2020
I, like every other individual investor, am 100% AGAINST this proposal. When is less transparency and less data ever a good thing for your average investor?
With previously working in the investment industry, I am more than aware of how investment managers operate and manipulate the market.
Raising the reporting threshold to such a high number will reduce public companies' opportunity to know more about who their shareholders are.
This rule change also greatly reduces individual investors ability to reduce their risk.
This is purely a proposal by the large investment managers to purely benefit the large investment managers.
The question is, "Is the SEC in place to protect individual investors or help large investment managers profit?"
Reading through your very own website, I don't believe it is the latter...
"The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation."
"As our nation's securities exchanges mature into global for-profit competitors, there is even greater need for sound market regulation."
"The laws and rules that govern the securities industry in the United States derive from a simple and straightforward concept: all investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to buying it, and so long as they hold it."
Regards,
Matt Meyer