Dec. 17, 2021
I am a retail investor and these are my recommended comments on S7-18-21 (SEC proposed Rule 10c-1). Real reform for securities lending must include: (1) Notifying public about who is borrowing & lending shares (not just which company’s shares are borrowed or lent), (2) Notifying retail investors that their shares are being lent, (because (a) they don't get to vote & (b) they don't get tax-qualified dividends), (3) Sharing any revenue earned from lending their shares with retail investors, (4) Eliminate “Onward Lending” completely (public companies & transfer agents have opposed this for decades), (5) Require every loan to have a due date (not “if applicable”). Now is the Time for Change Thank You