October 11, 2019
Dear SEC Rule Comments, Investors and consumers (i.e. the public) should have the liberty to learn more information regarding corporate activities. The U.S. Securities and Exchange Commission's (SEC) is trying to move disclosures to a “principles-based” approach is misguided which can, and does, lead to negative consequences among those of low-income background. The SEC is supposed to safeguard investors and consumers by providing more comprehensive disclosure. Unfortunately, the SEC is currently diminishing existing statutes, making it easier for corporations to bury information and preventing shareholders and consumers to make inferences on such information. Shareholders and consumers have a right to know how corporate executives are responding on persistent problems such as climate change, integrity in the workplace, transparency between corporations and the public, and even taxation. Shareholders and consumers should also have a right to know if the client-company they are invested in is involved in national/international politics. The SEC should demand corporations to disclose any transfer of profits to other countries as a means to avoid domestic taxes. The SEC should push for disclosure rather than allow corporate CEOs to have more room to hide pertinent information. It is appreciative for taking time to read this. Sincerely, Dan B.