Oct. 11, 2019
Dear SEC Rule Comments, The SEC has several stated roles and responsibilities: 1) To protect investors; 2) To maintain fair and orderly functioning of the securities markets; 3) To facilitate capital formation. However, to protect investors the SEC needs to provide MORE information about corporations, not less. Trying to move disclosures to a “principles-based” approach is misguided and wrong - you should be promoting MORE comprehensive disclosure, not curtailing existing requirements. Shareholders and the public have a right to be informed of how corporate managers are planning for long term on issues like climate change, board diversity and representation, and workforce development. Shareholders also have a right to know if the company they are investing in is playing in politics or moving profits overseas to evade U.S. taxes. It’s time for the SEC to advance disclosure, not roll it back. Please take steps in the right direction instead of moving us backwards. Do your job of providing all pertinent information about listed companies so we can make better decisions in where to invest our hard-earned money by purchasing stocks that reflect our core values for the future of our country as well as ourselves. The two are deeply intertwined. Sincerely, Joan Combes