Aug. 16, 2022
Hello, I am writing to you as a retail investor about this rule on securities lending transparency. I want to express my support for this regulation and what it will bring to the market. It is not very clear at all where our shares are being lent out throughout the day, and it is impossible to get an answer when contacting my broker. The last two years have shown retail that they need to be more diligent with who is handling their investments, because the people we trust to have our best interests in mind are lending out shares we hold so they can continue to sell them and drive overall price down. I believe this rule will expose funds and institutions that are failing to meet their fiduciary obligations and bring more market transparency. It has been disheartening to see all the comments from Wall Street going against this proposal. This rule seems to be directly aimed at making their actions more available to the people they are supposed to be serving, but they are asking for the ability to work more in the dark. If we truly want a fair and open market, I believe this rule is a necessity. We deserve to know when and how our investments are being used against us, especially when we "own" them with a broker. Having the ability to pull an investment out when it is clearly being used against you is a tool retail needs if anyone expects greater market and investment engagement from younger people. Keep up the great work and I hope to see this rule implemented swiftly. Thank you, Retail Investor - Kevin Hagemann